Next 2 days actually. I think about it like this:
If you look at oil, it's pretty much hit a short-term top, and it got more bad news day, so energy sector likely won't go up much anymore.
Financials has had a pretty good run, but still yield curve is very bad for them, and oil prices is kind of toppy now.
Then you look at the other things like tech, FANG and Apple are up a lot, in fact Apple won't see much revenue growth but its stock is already recovered to 112 range, and FANG stocks are still at ridiculous multiples.
So I think we will see profit taking. Could we see one more euphoria b4 a pullback? It's possible, but I rather bet on the downside here.
I mean look at NFLX, it went from 102 to 112 in 24 hours, like how much more euphoria could there be?
Most of the online community is now decidedly bullish, in fact a lot of them are expecting all time highs. Their attitude toward stocks right now is "we must get on it else it's gonna get away from us, so buy buy buy b4 they go up further".
I am seeing 250 price target for NFLX in articles...it's time to short.
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