Over the last 9 weeks it has not paid to be a bear, and it hasn't paid to hedge your longs. Any weakness in the general market has quickly been followed by renewed buying. During this impressive advance, more and more setups are emerging, which is exactly what we should expect from a bull market.
Is this a new bull market? For me, that question doesn't need to be answered in order to make money. The trend is clear, so I'll go along for the ride as long as it lasts, as it never pays to argue with the market. All this said, I continue to take partial profits as these setups trigger and move 6-7%, then hold the rest for further gains. My holding period during this time period has been shorter than normal, so I've definitely missed some gains by not holding positions longer.
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