Replies to post #195004 on SPDR S&P 500 (SPY)

[risk on]

I like it, I'm naturally counter culture , and when I see the buffet line piling into 210c it makes me wonder, to say the least

[thunderbird2004]

Curious, what's your rationale for another 1% up move after 2 consecutive days of 1% ups? You always make good calls so I wonder why you think this will go to 210 this soon?

I am looking at megacaps that are holding this up and they seem very stretched. For example Exxon Mobile is actually near a 52 week high, while their earnings will be atrocious even with 50 dollar oil...the valuations of some of these companies are quite surreal..

I am holding 209ps this week and next week, thinking a retrace to 207 first before any leg up, if there ever will be another leg up.