With the standoff between our lunatic-lite and North Korea’s lunatic for real and the bile of racism and violence coming to the surface in America under a leader who instigates it, and with the VIX doing this…
…it is obviously time to bounce (as noted on Friday); time to release some bull endorphins and use the sentiment thrust in last week’s negative direction as fuel. You just knew (or should have known) this was in the bag. The bulls will play for a while as the expected bounce manifests. I added a couple of positions and have an eye on a couple more. But the link just above also notes reasons to be more bearish entering Q4.
As for the here and now, here’s more sentiment stuff, courtesy of Sentimentrader.com…
Smart money lurched bullish while Dumb money faded amid the fear.
Extremes in sentiment are favoring the bulls on the near-term.
And the overall risk profile…
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