Dow & Nasdaq 1.5% from all time highs
Now this would be a triple top for almost all indexes, so the question is, what then ? I only know that attempts by the fed historically to keep the economic cycle going in light of slowing global growth has backfired. On a rational level, if Asia and Europe are either in recession or on the brink of it, and US companies derive a major portion of revenues from those areas of the world, how can things keep going strong for them.
I believe this is a manipulated market, as cheap money is the main reason for assets prices rising, not fundamentals. Of course, as hard as it is to make out on the long side, it's in climates like this that you can lose your shirt on the short side. I am still up around 8% for the year(on my stock portfolio), but that could go quickly with my concentrated positions. However I must admit, I love this game, and wake up every day expecting to win & excited to turn on the TV or open the computer. Then again, if I lose back my remaining 8% real fast and go into the negative, I might change my view !
