Retail sentiment has become overwhelmingly greedy and bullish, with the SPY breaking the 700 level. According to the contrarian investing principle to "sell when others are greedy," this extreme retail exuberance signals an impending market top. The author maintains a strict short bias, expecting a sudden and severe market crash at any moment. The market continues its strong upward momentum, fueled by the very bullishness the author is betting against, resulting in total portfolio destruction.
Retail sentiment has become overwhelmingly greedy and bullish, with the SPY breaking the 700 level. According to the contrarian investing principle to "sell when others are greedy," this extreme retail exuberance signals an impending market top. The author maintains a strict short bias, expecting a sudden and severe market crash at any moment. The market continues its strong upward momentum, fueled by the very bullishness the author is betting against, resulting in total portfolio destruction.