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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 457.82+1.3%Jan 23 4:00 PM EST

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To: energyplay who wrote (49616)5/4/2009 5:37:53 PM
From: Night Trader  Read Replies (2) of 219674
 
There are a lot of funds with money on the sidelines who don't want to get left behind and that may be a factor. If we pass the highs reached early in the year during the recovery after the November decline (around 930) a lot more money will come in for this reason and that should be the local maximum.

Certainly stocks are no longer cheap, just reasonable on a very LT basis with better valuations for some of the "quality" companies (as in the VIG ETF). GMO puts fair value (average margins and PEs) for the S&P at 900 as does Shiller's CAPE method.
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