Misplaced Optimism

The market is becoming ridiculously optimistic. Greece, Portugal, and Spain have all had their bonds downgraded and are in precarious financial position. Europe in general, England, and many US states are in horrible financial shape. Unemployment is not making much of an improvement. Despite all this, the market continues to rise into extremely overbought territory. I'm not certain how long this will continue, but I strongly believe there will be a dip shortly. So, I decided to make an aggressive play by buying Citigroup May 2010 4 Puts.