on Fast Money. According to him, since the market has stayed at these levels for a while it is highly likely to go up. Reason being that the market generally doesn't give investors time to get out at the top. So this must not be the top. What nonsense? Is this the new valuation technique on CNBC? How do people let these people mange their money? Simply mind blowing.
Point being is that his opinion likely or not should not blind you from reacting if that event should happen.
From a trading point of view I see what he means because tops indeed are cutthroat. But I have seen positive looking situations quickly reverse too. The more positive the situation, the more you will likely freeze and do nothing. You mind will switch time frames while your account bleeds.
Just pick a support area and set your stop. Don't set a convinced mindset. Whats dangerous is taking your guard down. When you take your guard down, you get overconfident. When you get over confident, you leap from building to building. When you leap from building to building, you land on someones dinner table.
Protip: CNBC is for entertainment purposes only. Im sure backstage with all his buddies they are having knee slappers over the stuff they say on air. Trading on advice from CNBC is like believing kibbles actually has a trading account with more than $200 in it.