It’s obviously more of a kick when things are falling, but looking at today’s action, we have seen this movie before. In fact, we’ve seen it multiple times lately. The unicorns are cavorting once more in the meadow, and everyone is bidding assets up. But one glance at the past couple of months on the ES simply screams “short me!” even though it’s virtually impossible to do so on a day like this and feel good about it. It only feels good after the fact. That’s why hardly anyone does it. “Sell into strength” are three of the easiest words to say but most difficult to actually execute.
