I remember last year around this time when stocks had been non stop higher everyday since the "trade deal" being announced late aug. It felt like there would never be another down day. It really really felt that way. Just like today, feels even stronger today that way.

Even after being involved in markets for 15 years now, I catch myself thinking, wow, thats it, they really did it, they cured negative prints in the indices. The momentum has such an impact on the psychology of humans. Its a panic that leads people to buy in to feel relief. I

One thing I have to remind myself is that what seemingly can't happen, will happen, and what seeminfly should happen, won't. But this doesn't help the trader at all, bc both bulls and bears can read that and say, im on the right side. Ultimately, the only thing you can do is

make your own decision and live with it. I respect people who buy these prices bc they have made a decision to buy, for themselves. Its not about what should happen, or whats cheap or expensive, its about making a choice that you can deal with. Obviously, making a ton of money

being long is something easy to deal with. Whats not is losing your shirt on shorts, and what's worse than that is being short bc someone else told you stocks are expensive. Someday, someone will lose their shirt on longs as well, maybe not for a while, maybe tmrw, but either

way, lose your shirt on a decision you made, not on someone's "advice". The government won't write a check for long losses when they come, and certainly not short losses. I worry today that we have many many many longs who have no idea, and some shorts as well, who are trading

on someone else's advice, a someone else who will deny they ever said anything when they eventually are wrong. Whether its Cramer or buffet or gundlach, they know just as much as you and I on where prices will be tmrw. Remember that. No more than you or I.