Opinions, please. Something doesn't seem right...
This market has had a nice rebound from the bottom, but the forward looking fundamentals concern me. Unemployment is on the rise, a great amount of major corporate earnings look soft and the horizon response by most is "unpredictable".
The legs on this upswing, in light of the news, doesn't look that bad and that's what bothers me. I know the market is sometimes futuristic in guessing when things have turned the corner, but I don't see where this run up (especially in technology) is warranted. Yes, we can say look how far these stocks dropped... but realistically is Yahoo worth multiples in the hundreds (when they had positive earnings). So many of the techs are still way out of step with other sector stocks and all stock sectors are out of step with stock multiples historically. In other words... why would we expect things to go that much further up before everything falls back in a heap of prunes.
Woof!
