but don't open the box...
Pandora according to Greek mythology, was also the first woman on earth and made famous the phrase, “Pandora’s Box”. It was actually a jar, not a box, but if opened would release all the evil in the world. Today, opening Pandora’s box means to create evil that cannot be undone.
We chug along to higher highs, bad news is always good, the retail investor is still no where to be found, yet the pull higher continues. Ben and Timmy continue to make Greenspan look like a stone cold hawk on the economy, while the Fed’s Fisher waxes semi doom. As I said the other day, I’ve been bearish for the last six months, but long the whole way up. I think that’s how many traders feel, except for the ones that have been trying to pick tops along the way. I’ve been guilty of that on a few occasions over this period, but have been quickly reprimanded and embarrassed by Mr. Market. Tight stops though, make short term mistakes tolerable. If you want to be in with the in crowd, I strongly recommend using them, unless you like your head on a stick.
Have a great week and be careful out there. Don’t fight the trend, it’s smarter than you.