Stocks Have hit New Highs in 2013 — Time for a Market Crash?
Since the market low in 2009, every move upward has been greeted with confident assertions that another crash was just around the corner.
At some point, market gurus have assured us, this sucker’s rally will end, and stocks will plunge in 2013.
Well, a crash is always possible, but as time goes by, a return to the 2009 lows seems less and less likely.
The Dow Jones Industrial Average is up more than 110% from its 2009 lows as of March 2013. Despite some modest pullbacks along the way, this push higher has been steady and strong.
From a shorter-term perspective, strategists like Goldman’s Jim O’Neill have begun to worry about investors “Selling in May and Going Away” — a pattern that could leave us with the 2013 pullback in equities.