average retail investor has not participated in rally. Net outflows for equity mutual funds are huge for 2009. Short the dollar trade has helped the market this year. $400B in '09 into Bond funds.
We are close to full valuation based on technicals. We have 0% interest rates, market momentum and huge cash on the sidelines. Market could move another 15% which puts Dow at 12000. We are about 18% above 200 day moving average.
Incremental revenue will drop directly to bottom line b/c of extreme cost cutting in past 12-18 mos.
We have never had a double dip recession with these kind of low yields.
We like to see strengthening dollar with a rising equity market.
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13 years ago