Well, it certainly seems as though the equity markets cannot make up their minds which way they want to go. The question on every investor's mind is, is this going to be a major top in the market like 2007?
I remember reading an article years ago titled "They do ring a bell at the top of the market." It was an intriguing title and, of course, that's the reason I read the article. In essence, it boiled down to this, when the Federal Reserve starts raising interest rates, it can be a major negative for the market.
What will happen when interest rates start to move up again, as they invariably will? Are we going to see a move out of stocks and into safe yield bearing instruments again? [Read more...]