Anyone take a guess on what the peak of this run up will be? I am going to say Dow 10,000 and then we are in for at least a 10% pullback. There is just too much uncertainty out there right now. What are your thoughts?
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What uncertainty is there? Clearly the market sees no uncertainty at all.
No, there will not be a pullback anytime soon. The stock market is broken, it is horribly skewed to long-biased trading now. Free money, inability to short stock, and the media hype machine has this kicked up to 5th gear. It ain't gonna stop.
If there is a 10% correction in Dow/S&P it could be more like 20% in the Russell since it's high beta crud and has outperformed so much- having said that, I don't think any correction greater than 2% is possible.