The market isnt nearly as overvalued as it was in the late 90's so the hype is justified Even if the dow ran to 14K the markets would remain resonably valued
Month of April is +5.2% for S&P 500 (OK, it's not quite over yet) Gee, 5% per month compounded is gonna be 60%++ per year. I can live with that! Anyone remember 1995 (+34%) 1996 (+20%) 1997 (31%) 1998 (+27%) and 1999 (+20%). I do, and I remember wondering how hedge funds could survive (who needs hedgefunds?) when the unleveraged S&P 500 gives you 25% per year!
15000 BY CHRISTMAS, WHEEEEEE..... I WENT TO A PARTY LAST NIGHT AN SAW A BULL SWINGING FROM A CHANDLER.
Its the 90s all over again, except the dollar is in the toilet this time, shhhhh dont tell anyone that.
No its not because (insert one of the following here): (1) the dumb money is buying, (2) the economic data is weak, (3) the breadth is weak, (3) my indicator which picked the high in 1987 is even more overbought (4) my wave count target, Gann line extension has been met, (5) the public is bullish, (6) its simply gone too far, (7) Wall Street if full of crooks (8) earnings are actually quite weak, (8) its a weak breakout on the chart, can't be sustained. Feel free to add your own reasons why this market (which is going straight up) is not bulllish. BAWAHAHAHAHAHAHAHAHAHAHA
the dollar doesnt mean anything, its being ignored as the DOW makes its 39th RECORD HIGH since OCT 2006. Forget about the dollar, doesnt mean a thing to this economy....