While I prefer trades that last a few days to a few hours (although I currently have a couple of option positions that I am holding longer because I bet against irrational exuberance), I am thinking there is some really big money to be made by anyone who can do what everyone warns traders against doing--call the top correctly in this richly priced market. Major turns come surprisingly often in sep-oct, but other dates are always possible. And I cannot absolutely rule out that this market might continue to levitate into next year. After all, Brazil's market recently continued to climb right through a national recession, fueled by QE.
Does anyone wish to stick his neck out on the chopping block and predict when this market will finally roll over? I'm still half-expecting sep or oct (it's tradition, after all), but I would like to hear other opinions. Any cycle enthusiasts here, or Ellioticians or Ganners? I think such methods are too involved for short term trading decisions, but they might be worth looking at when a major top or bottom appears to be obviously looming.
Does anyone wish to stick his neck out on the chopping block and predict when this market will finally roll over? I'm still half-expecting sep or oct (it's tradition, after all), but I would like to hear other opinions. Any cycle enthusiasts here, or Ellioticians or Ganners? I think such methods are too involved for short term trading decisions, but they might be worth looking at when a major top or bottom appears to be obviously looming.
The Big Top
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