I hate to break it to you but this market is going to go up and up and up forever until it doesn't. Draw a graph of Xª. See the right side where the inflection point is, you can assume that to be March 10, 2009. See how the rest of the graph as time moves forward it goes hyperbolic.
That my friend is called a pyramid scheme and there is no way to bet against it, when it ends it is over. If second last data point is DOW 18,000 or 22,000, then the last data point will be 0. Over.
So enjoy the game and if you talk bad about the market you will be jailed like Meredith Whitney almost was.
At this point, I am getting a little excited about the straight up rise in the market. I now believe that this continued non stop upward move can only end with a sharp decline. There may be one or two head fakes, then a sharp decline will ensue.
Reason, the market will try to exclude as many folks from benefiting from the ride down, as it has from this unexpected non stop ride upward.
Taking advantage of this situation requires patience and caution. I hate losing money, so I have to remind myself everyday that my net worth is gaining each day that the market goes higher, even though my trading account loses a little more each day.
As my bull put spread hedges expire at the end of each week, I also remind myself, that to recoup my losses from the rise in the market, the inevitable fall in the market will not have to be as steep as was the rise.
My ultimate investment however is not even set up yet. It will be a large UVXY short position that will be architected as the market corrects or crashes from these lofty levels. Then, I will be were I want to be!