Tim Knight's last post on Slope of Hope was full of despair. I've seen posts like that from him before -- he often gets like that just as the market does indeed top out.
I can imagine the millions of shorts who are full of despair. The dollar broke and all hell has broken loose to the upside.
Large caps are ripping. Small caps are up. Everything is up again. And 100 points... almost new highs for the year. On lousy consumer conf. numbers. This market eats bad news for lunch. This market wants to buy expensive things.
Does it ever end? It must. Be maybe not until every short has been blown out. Maybe they can keep triggering short covers forever. The market is all we have left in the U.S. that is working. Maybe I shouldn't be shorting it.
Well, my charts said to do it. So I did. Maybe I'm just too early. But I wouldn't be surprised if Tim's lament nails a top here. He's done it before.