She's gonna blow! Hit the deck! It is fantastic watching the giddy human crowd behavior as the stock market prints a substantial top. The multi-year low put/call ratio, dipping to 0.72 verifying the previous sub 0.70 number, is signaling rampant complacency and fearlessness identifying a substantial top in the stock market. One of those "Black _____" days of the week may be ahead (Black Tuesday, Black Friday, etc...). Black Friday has a nice ring to it.
The bears all left town penniless, and now live on the other side of the tracks, on Skid Row. The bulls are selling shares to other bulls and then buying them back after they are even more bulled-up. It is comical behavior. Human greed is the most dominant force.
Traders are tripping over each other to buy any stock with a heartbeat. Run for your life before you get run over especially novice traders since you are about to get your lunch eaten if long the market. The drop in the SPX, that should begin any day forward, would be expected to shed from 200 to 800 points so it is going to be a lot of fun.
When the festivities begin, the VIX will pop above 16.87 and then above 20 and higher. If you are long the stock market, you need to be very afraid right now. You are picking up nickels in front of a bulldozer and do not realize your shoelace is untied. Don't Go Back to Rockville. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.