This is turning into one of the greatest Bull markets in history. After all, there are no sellers anymore. There is no “sell the news” as everything bearish has been discounted and anything bullish has not. Be long or be wrong at any cost.
Today, worldwide markets (except China) are up 1.5 to 3% across the board. It doesn’t matter what the sector is, most everything is up because the Europeans are buying all the short-term government bonds outstanding in the name of “price stability”.
So we ask the question, “where does it go to”. The answer is “to the moon”. It is far worse to be cautious and sidelined during this monster bull market than to be bullish during a crash. If you even breathe a hint of risk management, you will be a laughing stock and the “training” to never sell continues as long as Central Bankers have printing power.
You know how you feel sick to your stomach being heavily long during a major market correction? Now folks feel directly the opposite; they are sick that they are not 200% long and margined to the hilt.
This is not sarcasm in any way. The market is at post crash highs and there are no sellers in sight. Historically, this market action and news reaction would mean we must be peaking. But not in this world governed by the Costanza philosophy.