It is so hard to sell this market because you feel foolish and get steamrolled daily (that's a pretty bad combo). The price action is entering crazy territory. If we are really lucky, we will get a blow-off top which will set up a true fat pitch - S&P 1300 would be close to that mark. You can either sell into it, or keep your powder dry and go for the perfect timing play.
The market has overshot significantly on this upside bounce. Selling into ongoing strength is going to work. There is way too much happiness. Way too much comfort with the market. When you can't find anyone to say a bad thing about the market or the future, it is time to take a contrary position. You know you're in a bull market when good news/bad news/no news, it just keeps going up.
The market is acting as though the future is pure plain sailing. This leg is overdone, and it is time to book profits and go to the sideline.
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