I may be overly worried for nothing here, but despite this continued push, I just don't sense that this market has a lot left in it right now ... in fact, I'm more worried about a quick hard shake out than a fast push higher.
I hedged earlier this morning and have been trimming some additional longs over the past hour on strength. I'm just too concerned that we are going to get a quick and hard correction. I may have misplaced fears but they remain nevertheless. Although not frequently, there are times I look to my gut feelings to decide what I should do and this is a gut call right now. I believe it's more important to be careful at this point than to be reckless. I would not, for whatever reason, become more extended long at this juncture unless you are doing so in liquid issues and can pull the trigger quickly if an exit is called for.
I hedged earlier this morning and have been trimming some additional longs over the past hour on strength. I'm just too concerned that we are going to get a quick and hard correction. I may have misplaced fears but they remain nevertheless. Although not frequently, there are times I look to my gut feelings to decide what I should do and this is a gut call right now. I believe it's more important to be careful at this point than to be reckless. I would not, for whatever reason, become more extended long at this juncture unless you are doing so in liquid issues and can pull the trigger quickly if an exit is called for.
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