This is my second post after I moved from RB to IHUB. In all honesty, I have missed most of the opportunity in this rally cause of the lessons I learned from the bursting of the first bubble. I was a perma bull from 1999 to 2001 and made a ton of money and lost most of it cause of stubborness and inflexibility on my part. I have only traded during this rally with tight ranges both up and down and left a lot on the table most of the time. I have also shorted stocks like cymi, nvls, etc etc only to see these teflon-coated stcoks make daily high's and being stopped with losses. Now at these stage, what to do?
I sincerely believe we are in the second bubble where PE's don't matter any more, fundamentals don't matter, where insider sell to buy ratio of 32/1 doesn't matter. We are in another mania, only this time it has been with the approval of greenspan, the same person who uttered "irrational exhuberance" when the dow was half way or so from where it is now.
I know with all greenspan's pumps primed to pump liquidity into the markets non-stop, I should forget my fears and just go long with abandon, but I am scared. What to do? So, I am mostly cash and just nibbling here and there, but also buying puts just in case and shorting some here and there even though not successfully.
Thanks for listening!
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