Color Me Cautious
I am not in the camp that says another recession is coming, even though this can't be ruled out. However, I am in the "Rally making me uncomfortable because it is not supported by fundamentals" camp.
If the S&P 500 manages to have an "average" year of up 9%, it's booked most of those gains already, so the rest of the year could be quite volatile. Keep in mind that, at this time last year, the S&P was up even more than it is now, and the market basically did nothing for the balance of 2012. A pattern is being established: a strong first-quarter rally, then "Sell in May and go away for one to six months," then a year-end rally....415 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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