Although I am typing these words well before the close, it seems virtually a foregone conclusion that, yep, the past 18 out of 20 trading sessions will end as a win for the bulls (some of those wins being historically giant). The mega-rally from Monday already feels like it took place a decade ago.
The ascent-to-the-broken-trendline for the NASDAQ continues apace, and so far, the line has been respected. I’ve gone ahead and shorted QQQ at these levels, with a stop-loss at $522.
I have also shorted semiconductor fund SMH with a stop-loss at $249.50:
I would also like to mention that a certain someone is going to be getting on a plane Thursday for an extended trip, and if history is any guide, such an event should be heeded as perhaps more important than an FOMC meeting. In the meanwhile, I am steadfastly monitoring positions and keeping stop-loss prices fresh.
