Too high = 20% or more correction this time...
Don't forget about gasoline.
I don't even know why gas is so expensive. It's over priced at the pump by 50-60 cents where I live. Gas itself as well as oil in that evil derivatives market is inexpensive.
When the media tells me that "stocks are cheap", and "money is on the sidelines"; I see DoubleSpeak in live action.
And when I was payin' $4.09 for gas back in early September of this year, I didn't drive any farther than I needed to, or had a very good reason to.
I'm thinking the S&P's back to 118/120 this time...
with all the $$ sloshing around?? not a chance.