the day of reckoning is here, page-36

I think its a combination of factors, the markets have been very strong for a while without the large pullbacks and volatility thats we have become accustomed to post GFC.

Mentallity post GFC has been that it is a traders market, even though buy and holders have made a killing over the last 2 years.

I think the nervousness relates to the feeling that a pullback may be close - The strong warning siren type tone of hedgeys post is what would have whipped up some bulls and stirred some emotions.

The fact that we have whitnessed an epic crash in 2008 is still fresh in the minds of all therefore guards are up and emotions are high.
All here are aware of what can happen if markets turn south - the flipside of that is that all are also aware at the gains that can be made when markets are strong.

Watch your portfolios be nimble and manage your risk, be wary of what could happen to the upside or the downside but be flexible and "trade what you see not what you want to see"