"Every bubble has two components: an underlying trend that prevails in reality and a misconception relating to that trend. When a positive feedback develops between the trend and the misconception, a boom-bust process is set in motion. The process is liable to be tested by negative feedback along the way, and if it is strong enough to survive these tests, both the trend and the misconception will be reinforced."

                               Trend is still up. Keep your stops tight and enjoy the ride.

“You are going to bed with an upset stomach because you have lost money most of the time and do not know what is going to happen”

“Most of the time even when we are in a good investment, we are in a state of regret."

“You are in a drawdown state 80% of the time and of that, you are in a severe drawdown state (greater than -20%) 67% of the time”

“Most of the time an investor is facing a market of regret…”

Dow Jones, 20,000.00 ATH

Whoever wishes to foresee the future must consult the past; for human events ever resemble those of preceding times. This arises from the fact that they are produced by men who have been, and ever will be, animated by the same passions. The result is that the same problems always exist in every era. - Niccolo Machiavelli

Trend is still up. Keep your stops tight and enjoy the ride.

"Our mind is constructed so that in many situations where we have beliefs and we have facts, the beliefs come first. That’s what makes people incapable of being convinced by evidence."

http://www.collaborativefund.com/blog/a-chat-with-daniel-kahneman/

Trend is still up. Keep stops tight and enjoy the ride.

Today the U.S. dollar touched a 14-year high and major stock markets got off to a solid start in the new year, boosted by strong data, while debt yields edged up after upbeat economic figures out of China and Europe.

                                         Trend is still up. Enjoy the ride.