The Wisdom of the Crowd says BUY BUY BUY!!!-SPX 84% bullish is...

The Wisdom of the Crowd says BUY BUY BUY!!!

-SPX 84% bullish is now at levels not seen since the 2007 highs. Extreme!
-This is currently the 2nd best rally in history to the 1932-1933 one. And that was off a much greater drop as we know.
-VIX @ around 17. PUT/CALL ratio was 0.4 on march 30th.
-Most cycles Top out here in early April.
-Its a "0" year and they are always profitable aren't they?
-All the talk "the worst is over" , "This time its different."

A meaningful correction is becoming increasingly probable, but that doesn't mean it must happen. Personally I see Tuesday as a selling opportunity. I believe that there is an increasing probability that a stocks bought this week will at least 20% cheaper within 12 months time.

It�s ironic that people laughed at me (work colleagues & relatives) when I took large LONG position�s on BHP CBA in march, when they didn't want them. Now everything is above 200MA and not so cheap, they are willing to follow the herd and buy here. So yes it may go much higher, but the probability of doing so is now diminished IMHO.

Head over to LGL forum for an example of the extreme bullish sentiment. Talk of Gold at 5000 AUD/Oz and renewed offers @ $4.50. Not one person talking of �knowing when to hold 'em and knowing when to fold 'em!�

I�m guessing my strange ideas will be howled down, as the bullish sentiment is so extreme. Everyone calling XJO 5000 etc. I have been LONG also, however I won�t be at the end of this week.

Hope you all had a happy and safe Easter break doing what really matters.

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