Timing tops is for complete morons. I will attempt to limit my exposure to sheer idiocy by simply removing money from the market, when profit taking calls for it. I am not going to short stocks or get long volatility. If anything, I might add to an already large (25% of assets) TLT position.
Early this morning, DSW posted much better than expected results. The stock has been in the penalty box for some time now and this beat caught people by surprise.
There will always be pockets of strength. A good trade will be able to make money, even when breadth stands at 30%.
Nevertheless, it would behoove me to not heed my own advice, yet again, by not proceeding with caution now, ahead of the Fall season.
Typically, I am subject to wild and erratic mood changes, which can/cannot lead to one hundred and eighty degree thesis changes. I am always open to the idea that I am wrong. Therefore, nothing is written in granite, sir. The world around us is evolving and the facts on the ground change, on a continuous basis (how else would it change, jackass?). So, take what I am saying to you with a grain of salt and understand that I am especially cautious now because of my earlier woes.
Having said that, prepare for a final leg higher.