When the market changes, we also must.
With the volatility reducing the way it has been, I must jettison my older ultra-bear count to ~1400 and instead view the market in a much more constructive manner. I am now of the opinion that we will only head back to the lows - potentially staying above 2400 in the next month or two, and not really make new lows. After that we should move on to new bubble highs where the definition of bubble will be re-defined.
There is a striking parallel with 1987 which I cannot ignore. In any case, its not a long here, but potentially mid May will be a great long. Will wait and see.
With the volatility reducing the way it has been, I must jettison my older ultra-bear count to ~1400 and instead view the market in a much more constructive manner. I am now of the opinion that we will only head back to the lows - potentially staying above 2400 in the next month or two, and not really make new lows. After that we should move on to new bubble highs where the definition of bubble will be re-defined.
There is a striking parallel with 1987 which I cannot ignore. In any case, its not a long here, but potentially mid May will be a great long. Will wait and see.