Donald.....That's the $64 question..What will cause a sell-off? The run-up is on good economy, good earnings, good everything. Sure its overvalued and EVERYONE knows it. For me, I've been mostly in Calls, had some puts a few weeks ago, got out of all for modest profit except BAANF(total loss) which is unreal. I'm waiting for end of earnings, about 2 weeks. Then with market even higher than now I think it runs out of fuel..no more good earnings, no more ANTI-FED benign economic data, just the prospect of 1 1/2% - 2% ?? growth..and a ton of very richly valued stocks.....sounds like a good scenario for a nice 5%-6% ??? correction to me. Right now I don't see a... .WHAT...but if one appears around correction time it would start a sell-off. If not, I think it's more of the same...buy the dip..... and wait till summer is over watching for the mystical...WHAT. As we all say, "But What the Hell Does He Know!!"
PS...very seriously loaded on MCAF August 60,65,70 Calls,expecting split announcement along with street beating earnings, also had EK puts and took money and ran BEFORE earnings.... RATS!!
Good Luck
Carl |
