Heinz,
>>>> , re: exuberance, i watch sentiment very closely, and i don't see much exuberance overall. on the contrary, one wall street strategist after the other is cutting equity allocations , there's been heavy buying of OEX puts for quite some time now, and continued talk of overvaluation, bad market internals, etc. and the market just keeps on going up (if you're in the right stocks,that is). every time prices dip down, fresh buying emerges. as long as market participants continue to express concern over the various negatives, the "wall of worry" is intact. <<<<
Im just noticing the exuberance from the many brokers and other investors I know in the market. As for the OEX PUTs, what is surprising is that there is still substantial buying of CALLs for individual stocks. Im not an expert in that area, nor do I follow it
closely but that is also giving a mixed signal.
Please also keep in mind that I have not yet called for a huge pullback, but am calling for a 5-10% pullback in/to start in APRIL.
seeya
seeya |
