...because I know better. Honestly. I will say this. With the U.S. economy slowing, noticeably and appreciably, including a serious and now quantifiable hit to home equity values in many parts of the country, higher energy prices, and an absolutely bubble-licious Asian stock market rise, including having many Chinese equities at much higher P/E ratios than dot.com's in 1999 (assuming the published data can be believed - no transparency on Chinese balance sheets)... ..only the most risk-welcoming individual mindset would want to try and juice the pulp here. M&A activity and corporate repurchasing of their shares have fueled this latest ramp up, and that can only last for so long. I can't possibly envision foreigners lusting after U.S. based companies, no matter how cheap the dollar gets, because of the fundamentally weak American economy. I do, however, believe that 1st rate, multinational companies like HON and BA can continue to thrive on a business model basis (if not an eps growth based one). And besides, Abby Joseph Cohen came out this morning feeling the apparent need to lend her credible (sarcasm) voice to the argument that there's a lot of value out there. That's really all the caution I need. Happy trading. May your longs and shorts win. *I will not implement a short portfolio at this time - I will wait for a confirming 3%-5% or greater correction, over a period of a couple of months, at minimum, with continuing degrading fundamentals in both the consumer (who is taking on debt on credit cards at levels not seen in a while) and corporations (subtract share buy backs and M&A activity, and the eps growth has been about 1/2 the published rate). When I do implement a shorting portfolio, assuming we get a verifiable and sustained pullback, it will be targeting high multiple, fundamentally weak companies, with exposure to biotech, consumer discretionary, and metals and energy (not high multiple now, but I can feel the meltdown coming). You may be right, I may be crazy, but time will tell. I'm fully willing, as always, to face my bad calls. If Abby can do it, so can I. The next bubble: People chasing jobs that pay modest incomes, rather than flipping homes, or investing in the financial markets. Hopefully, for everyone's sake, these jobs will be there. So mark this thread, on May 8th, 2007, and let's revisit it in three, six and nine months, and let's see what unfolds. I won't hide or gloat, whether right or wrong.