Do you think this bullish sentiment has legs?
Not really. I think bulls are getting greedy. They are now piling on longs. I think the next leg up is going to squeeze out the last of the early shorters and trap lots of bulls who think we are in a new impulsive uptrend. Then I think we'll see a
significant correction to this month long relief rally. I could easily see a push into the $8,000s before a flush to the $5,000s.