Reasons to Sell
Every cycle comes with its doomsday headlines - flash crashes, debt downgrades, taper tantrums, pandemics, wars, inflation scares
Yet through it all, the S&P kept climbing
Markets have a strange rhythm: the scarier the annotations on the chart, the higher the line seems to grind
Fear fuels positioning, positioning fuels rallies
The paradox?
The only real reason to sell is when there are no reasons left - when everyone feels safe
In crypto, it’s the same story.
Maximum fear often marks bottoms.
Maximum comfort often marks tops.
