Sure as sh*t is, Syl. Nice alliteration, eh?
I just posted a couple of charts of the long-term S&P P/E ratio. If we're near a cyclical peak in earnings at this juncture, we might get what I was thinking about, namely a H&S top in the P/E ratio.
Longer-term, I'm thinking about the policy implications that the potential market meltdown may have. Whatever short-selling losses I have pale in comparison to the damage that huge tax hikes to fund the retirement of Joe and Jane Six-Pack could do to me.
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