Market look to be shorterm overbought in some areas dramatically. Market just has gone too far too fast on some deals with mainly a shortsqueeze. The lack of worry and pure bullishness isn't good either. If we retrace down to 118 to 117.5 on the SPYs then I will re-enter.
I am shorting ANTP and GOOG here being they are technically extended. Made some nice money on BOOM break on the longside but now that it has retraced so far off the high, makes me worried about re-entry.
Some money shift to the semis also is evident. All in all seems some money out of the inflated squeeze stocks back to the semis. But still, nasdaq is overbought thus the danger of a pullback is there.
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