If ever the adage, bulls & bears make money, pigs get slaughtered had meaning it is now! I am taking my considerable profits & going on vacation for a week or 2. When I return I belief the panic toward the exits will be taking place.
As for the Bernake rally,
It is generally believed that a growing economy is good for stocks. In the extremely long term, this belief is supported by the following graph. However, there have been very long periods where poor stock performance and economic growth occurred simultaneously (up to 16 years). There have been numerous sharp declines in the stock indexes during periods of economic growth. Losses in the 20% - 80% range are prevalent the graph.
The economy can thrive and you can still get slaughtered in the stock market. This proposition is hard for many to swallow. However, the evidence presented herein spans three quarters of a century. The objective investor will follow the evidence... wherever it leads