<so far, such a sell signal has not materialized>
J, looks like Z has changed his mind. We are overbought big time. Some reasonable people are short. Many suckers are long. Your sentiment guys admit (probably correctly) that sentiment indicators do not work anymore, at least for now. Shit outperforms. In short: speculative mania. Reminds me spring/early summer 03. There is little doubt that the love fest will not last too long, but still long-term short positions might be painful.
What's the plan?
I am short SMH since Friday, have zero no confidence in this position, and will cover soon if pullback does not materialize. If it does - will cover anyway (g).
I am still almost 100% long in my gold account. Have no intention to cover. HUI did fine during 03 rally, and it is doing fine now.
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