The melt-up is entering its last phase.
You can just feel the flutter of towels flying into the ring. The relentless march of the market is squeezing out the last of the mohicans.
As confirmation, I present exhibit 1 - Bob Doll, the perma-bull CIO of BlackRock, bought out of hibernation to co-host CNBC this morning.
How much further can we rise. Can't see us going through 1200. That to me is the maginot line.
How much longer will we rise. No clue. It feels like a pretty strong tailwind. People are getting much happier, and much more comfortable with the economic outlook. This happiness is not going to evaporate anytime soon.
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