What worries me about this market is that there seems to be few worried about the market's level.
While we never know the future, I have always tried to develop counter emotions in terms of the market. When it is down and most everyone is risk adverse, I get excited and look for the sales. When it is up and most everyone thinks that it is easy money, I get as nervous as "a long-tailed cat in a room of rocking chairs".
While I'm not selling, I sure ain't buying. The market can always be irrational longer than you expect. That happens both on the upside and downside.
I talked to a friend today who was convinced that the market’s technical fundamentals were strong and I agree that they are strong. But, I live in Florida. The weather can change with a "drop of a hat". Technical fundamentals are always strong until they are not!
Somedays I feel like a long tailed cat. I wish those folks would stop rocking those chairs so fast!
Be smart, be well-read, be aware and be successful.
