The DJIA is up 70% over the last year and the NASDAQ has almost doubled. But, most market indices are still down 15% to 25% from their late 2007 highs.
Some traders speculate that the market has run too far, too fast.
If employment starts to pick up, housing improves, and corporate earnings continue to rocket in the second quarter, the precedents set by 2007 tops could disappear as the market breaks through them. Douglas A. McIntyre
