Options Expiration This Coming Friday

So, the index I track the most is ^SML (Yahoo! quote). It’s the S&P Smallcap 600 Index and is the most usefull number for me to track the sort of stocks I get involved with. Anyway, the 3x ETF that I trade on that Index is TNA. Since the February option expiration, TNA is up +50%. From the March expiration, TNA is up +20%. You look at the chart and all you can think is that it looks over extended. Yeah, and I’ve thought that for the last month. So, what I’m saying is, keep a short leash on all your holdings, but don’t count the market out from reaching ever higher numbers. Because it can go higher than you would ever have thought. We all know from the recent past that the market can go lower than you could have imagined, so why not higher, ever higher.