These bulls are nuts, market up 25% & they want more
I posted an excerpt from an article earlier today that said if the market continued up at this pace the S&P would be up over 72% this year. Of course that isn't possible. It can trend up for months, but there has to be some pull backs, we are getting very overextended here IMO.
Hmm...When S&P went to 1310's-1320's range, it was overbought based on TA. Then a couple of weak selling down days to ease/turn that overbought condition giving longs(played very well on the turn) some more possibilities for the next move up & it turned out to be a trap for shorts. Now TA is showing overbought on the market again. Will the selling pressure turn out to be real this time or is it another trap for shorts? Will find out in the next few days.
Longs got AJ. Shorts got AQ. Both made a pair of aces on the flop. Shorts bet & longs called & reraised. Shorts called. Longs checked on the turn & shorts betted. Longs called & reraised again. Now shorts are panicking and thinking what the hell is going on? Is longs got two pairs, three of a kind, or some other hands made. Now comes the river. Longs moved all-in. Shorts called, but sweating. Well...shorts got a better kicker. Longs are playing this hand well.