Looks like SPX could get down to the 50MA. Hoefully people wait until next week before they consider buying anything.

I have seen nothing but bearish headlines the last two days, so I would expect at least a short term counter trend rally could begin at any time.

I agree with Moon. Whether the bull ends next week or next year, sentiment is getting extreme enough for me to get defensive. I would not be borrowing at this stage.

The most disturbing thing about the crypto bubble is the increase in searches for things like "buy Bitcoin with credit card". Even if people can't afford it, they're going to find a way to buy it.

I sold some call spreads today, but even those might have to be closed out if the market grinds higher. Seems like there is little resistance at this point and no way to tell when overbought will start to matter.

I will have to check this book out. I just finished the latest edition of Covel's Trend Following, so I feel like I might be ready for a book like this.

Trading smaller...I agree completely. I have spent this entire week undertrading, and only trading the really good setups. I plan to close out almost all of my positions end of week.

I thin more troubling is the fact that, in just the three days since I replied to this article, several people have asked me about Bitcoin and whether or not I owned any. And these are people who pay almost no attention to the financial markets.

I was already on the sidelines, but knowing that just 1,000 people own 40% of the BTC market makes me want to remain on the sidelines. Plus, I don't have the kind of tolerance for volatility that crypros require. Should be interesting to see where this goes after tonight.

Thanks for the comprehensive article. I'm also bullish on the blockchain technology and cryptocurrencies in the long term. But with the parabolic move over the last year, I just can't buy Bitcoin even if I do miss out on the upside. I'm with you : not "with a ten foot pole."