We are not market strategists so take this with a grain of salt if you must but after 30 years in the market it might be worth a thought. There are two reasons that prompted this post:

1. Everyone we respect and pay attention to is basically of the opinion that we've nothing to worry about. The economy will continue to gather momentum, there will be no bumps from federal sequester cuts and money will continue to flow from bonds into equities. Low levels on the VIX put a measure on the complacency.

2. In the stampede toward high . . .

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