In June of 2009--when Obama gave his "peace" speech in Cairo--I said PE expansion was on deck--because "blessed are the peacemakers."
Well--that's this market now--let growth slow a bit--and stocks will start ramping again. You can say what you want about OBL's death--but it will give a PE expansion for this market.
Now remember back in November of 2008--when stocks had gotten crushed? Remember how much the PE's had contracted then?
Let me remind you.
We haven't even had hardly any PE expansion--we have had earnings expansion! What happens when they blow the PE bubble?
Just like the meltdown that happened then surprised everyone--the continual meltup will surprise both bulls and shorts alike!
Cause that is what will happen next!