Overall at the moment I am:
1) Still content to ride the bullish wave
2) Keeping a close eye on the exits
Today I read another interesting take on “Year 7” by Dana Lyons as reported on The McVerry Report. If you would like to remain “well grounded” with all of the hoopla beginning to build regarding “new all-time highs” I strongly suggest you give it a read.
For the record I am not the type who is personally included to fight new all-time highs and in no way am I “calling for a top.” As high as the market wants to run – A OK by me. But I also try to keep in mind two old adages that I adapted (and adopted) as follows:
Jay’s Trading Maxim #135: You are far more likely to trip and fall if you moving forward while staring at the sky. So always be aware of the terrain around you.
Jay’s Trading Maxim #136: If you trip and fall walking down the street that is one thing. But if you trip and fall at the top of a mountain that is something different. And if you don’t even realize you are at the top of a mountain when you trip and fell then, well, the only words that apply are ”Look Out Below.”
The bottom line:
*Don’t fight the trend.
*But never allow yourself to believe that the trend can’t end.
Disclaimer: The data presented herein were obtained from various third-party sources. While I believe the data to be reliable, no representation is made as to, and no responsibility, warranty or liability is accepted for the accuracy or completeness of such information. The information, opinions and ideas expressed herein are for informational and educational purposes only and do not constitute and should not be construed as investment advice, an advertisement or offering of investment advisory services, or an offer to sell or a solicitation to buy any security.