Remember the Feeling

I tell myself that I can't hold out forever
I said there is no reason for my fear
--REO Speedwagon

When dot com stocks were soaring day after day, it felt like they would never go down. Then the trend changed, and it was hard to remember what the tech bubble action felt like

When housing prices and related financial instruments were soaring day after day, it felt like the trend was unstoppable. Then the trend changed, and the feeling associated with the housing ATM vanished.

Once again the trend seems relentless, as stocks and bonds levitate on an ocean of central bank-induced liquidity.

Do what you can to preserve this feeling, because soon it will be nowhere to be found.

position in SPX