Everything is screaming bullish right now, but there’s this little voice saying in my head “be very careful” at these levels. We’re hitting extreme levels on the put/call and when/if we form a double bottom here, I’ll feel comfortable taking some short positions.
One other way to get into some shorts here is if we have a huge gap up at the open, which is quite likely given how many people missed out on this rally. There may be one morning where the news is perceived uber-bullish, sucking the sideline money in, then a reversal around noon.
That’s my prediction….lol…and I’m sticking to it.
