With the current relentless rally, I do wonder how this compares to the post-92 rally, when stocks would steadily reach new highs. Shorts (esp. valuation/tech) continue to get clobbered (save for pockets such as China tech in the last week), but of all the long positions I own (e.g. VOYA, AIG), I'm finding it hard to reduce because they all seem highly compelling as businesses and technically. I have reduced a percent here or there, but remain very long and have very few/often no shorts on.
Time will tell, but communities such as zerohedge do keep me more comfortable. If everyone has bought in, the rally is tough to sustain. If, however, there are many doomsday sales/shorts in the market...
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