I don't know whether to see that as contrary... or if I just am scanning the words and actions of some very smart traders. A lot of these sites I don't follow day to day anymore, but are people I generally consider to be smart. The twitter folk I am perusing also are buying 1/4th to 1/3rd positions long instruments such as SSO (2x S&P 500 ETF)
The devil on my shoulder says all these folks know how much money can be made on the oversold bounce since we've gone through so many the past few years, so they are trying to front run the move. But seeing all these folks doing so - in concert, and without fear - has me wondering.
For now, I will remain dumb money and buck the trend. :) It seems strange we'd bottom in the mid 1070s rather than mid 1060s. I will prepare the egg for face just in case.