Should we be filling up our pockets with long calls and riding the Funny Munny train?
The SPX is bouncing right along on the Vegas waves towards likely levels of $3k-$3.2k in the next few days. Interesting twist is that Memorial Day is coming up and US markets will be closed Monday. If buyers evaporate at higher PE ratios than at all time highs, while we are still more than 10% down overall, it make a bit of sense. But what makes sense these days? Consult your risk tolerance rules.
The SPX is bouncing right along on the Vegas waves towards likely levels of $3k-$3.2k in the next few days. Interesting twist is that Memorial Day is coming up and US markets will be closed Monday. If buyers evaporate at higher PE ratios than at all time highs, while we are still more than 10% down overall, it make a bit of sense. But what makes sense these days? Consult your risk tolerance rules.
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