IAC: yes, it's best not to react too quickly - as I was saying to Kastel yesterday, I'll let the market do the stopping out for me, because there is no point in trying to forecast the future, at least in the short-term...
My only suggestion at this point (and this is what I'm telling myself), if you're intent on going long (the markets that is) I'd look at buying it from a secondary pullback-a bounce off the 9-day MA is my preference (we're still below it), otherwise, it would probably be more profitable to just sit and watch and reload on the short side as this buying frenzy comes to pass.
...but again...if we get a crazy bullish 3-days - good money can be made by just swinging with the markets.
oh, btw, the energy markets resemble the broad markets - worth a look.
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