The
valuations here really are extreme, the
complacency is also extreme. I mean
investors are willing to pay very high
prices and have very little worry that
the stock market is going to go down.
People have very short
memories, I mean we've had two major 50%
declines in the stock market this century. Since
2000 we've had the market cut in half
twice and it could easily happen again
yet nobody seems concerned.
Related trading instruments: SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM)
