Requiem for the Bears

Not only did the market ignore Thursday's slight weakness, it moved higher as the week wrapped up. In the old days when the market had some normal human emotions, the bulls would take profits Friday afternoon after a good week. But in this market, the biggest fear is being left behind as it climbs ever higher.

One interesting development today is that the S&P 500 is now up exactly 1000 points from a low of 666 in March of 2009. There were a couple of corrections along the way, but the majority of the time we had a V-shaped move and went straight up. What is most striking is that it occurred despite never having any real economic strength. Nothing has been more true during this run than the old saying, "Don't fight the Fed."...964 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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