SPDR S&P 500 (SPY)

[GuTA]

I agree on the fundamentals of oil etc, was more speaking to the notion that sectors that haven't been participating can always get rotated into. Said the same about 4-6 weeks back about biotech. We were half way though this rally and biotech had yet to participate.. then it started coming on even though its valuations weren't crazy cheap and the fundamentals around their pricing has been as bad as ever.

Big theme is that people should learn from this environment and not just say "can't wait for this to be over". This could be our new norm more often than its not. Thinking that once this trend changes it won't be back would be a misguided opinion.

How long can they keep this going like we have seen for the last 2 years? Honestly... years. If nothing changes we will be here next year. Some dips, some rips, but basically still here.