It's another morning in the life of this historic bull market, one that continues to defy and astound. And like any trend, fighting it is akin to swimming against the current. Of course, despite the continued upside action skepticism remains.
And with each passing trading session we are one day closer to that inevitable pull back. However that pull back could come tomorrow, next month, or even next year. We've reached peak shoulder shrug. Nuclear war? ---shrug---. Political turmoil? ---shrug---. Ignoring the headlines isn't something new. But previously the market would at least acknowledge the fear mongering and dip. Those dips are becoming not just smaller, but fewer and far between.
I think that 8.84 VIX paint, much like the $SPY $212.97 paint a few years back, will get hit before we see any meaningful collapse or pull back, which means this market, as crazy as it sounds, has more upside left.
Which of course is the easy answer. Where is the market headed? Up! Some would say its already up 20%. Others would have a tough time wrapping their minds around buying something at prices no one has ever paid before.
But it's a new age. The majority of the buying is the corporations themselves, ETF's, even Central Banks. Investors have actually been pulling their money out of the market... Go figure. Could it be the 8 years of relentless fear mongering?
Yet here we are, the same fear mongering exists, just with a different excuse to sell. But the market is still moving higher.
With that a few trades to capitalize on this move.
I think $JPM is going to break over $100 in the short term. I will be looking for calls to trade this move:
$C is likely heading over $80
$BAC has broken out of a bull flag.
$OSTK is setting up for a big run to close 2017.
and a high risk near penny stock could be a decent turn around story in the short to medium term.