Parabolic moves end, badly.
There is NOTHING wrong being long here, and its pretty bad to be short.
But be sure to have stops, and stick to those stops if you are long.
Days, weeks, months, years, it is really an unkown where this is going.
But keep in mind, we still have "suspended" normal accounting practices (mark to market), the Fed lending trillions against garbage paper (pennies on the dollar collateral paid out at near full face value), easily 5+ years IF we start a recovery here and now to recover all the lost jobs.
I don't see how a sustained recovery could be starting with many states near bankruptcy, countries near brink of fiscal disaster.
This is the final blow off, when this is done (year , 3?) no one will want to buy a stock for the rest of their lives. I am almost there already. :)
Good luck, and I haven't been posting, but I have been mulling. I will have a series of posts at some point with multiple rants with a new blog format.