How is a melt-up progressing?

Since I have been constantly talking bearish recently, I'm sure a lot of folks must believe I'm kind of a perpetual bear. If you think so, you surely haven't seen my wildly bullish calls. Want an example? Have you seen my crazy bullish call at the darkest hours at the end of 2018? See here: A 20% jump in 2019

As a matter of fact, I'm a swing trader but generally going against the popular views for a given time. Indeed I'm quite bearish in general for now and therefore keep talking bearishly. However, it does not mean I think the market will crash and simply go down for long. Far from it. Actually I'm a big believer in an ongoing MeltUp market that may reach its ultimate top this year or next year. Having said that, it does not mean we won't see some big selloffs on the way. If history is any guide, we had witnessed numerous times of big plunge of the market during the dot.com MeltUp. See the chart below for Nasdaq for the last two years of the bubble period.  The Nasdaq crashed by roughly 10% five times on the way to its final dot-com era peak. So regardless how bullish one can be, we must honor the simple fact that Melt Ups come with volatility and wild ups and downs.  

 Believe or not, even within the time like now that I'm bearish overall, I have still been doing bullish trades from time to time. For this week, I have got two bullish trades for S&P via SPY, betting it wouldn't crash below $370/$365 by selling puts. Both ended with full profits although it was quite a bad week for the market! For today, I told my DW Family that I even expect some revenging bounce early next week and we made a trade to bet VXX will fade fast with it.  Let's see how it goes next week!😇 

PS:

I have registered as 深山老林 at SafeChat (SC) (You need to download the SafeChat app first) and have set up a new SC chat group. I'm gradually shifting our major social media interactions to SC instead of WC. If you'd like to join my group, sign up a free SC account easily and search for me and connect me as friends.  For friends sharing  similar conservatism views, let's come together to form a better chatting group that won't be constantly disturbed and harassed by the insane radical censorship!