S&P 500

Authored by Vitaliy Katsenelson via RealInvestmentAdvice.com,

Dear reader, if you are overcome with fear of missing out on the next stock market move; if you feel like you have to own stocks no matter the cost; if you tell yourself, “Stocks are expensive, but I am a long-term investor”; then consider this article a public service announcement written just for you.

Before we jump into the stock discussion, let’s quickly scan the global economic environment.

In a trend observed every day this week, S&P futures are slightly in the red ahead of a post-open ramp with the VIX rising to 9.91, as Asian shares climb, European stocks are little changed. WTI crude pares recent gains, slipping below $51 after API showed an unexpected crude build. Earnings season launches with bank earnings reports from JPMorgan and Citigroup, while Economic data include PPI figures, jobless claims.

The Fed's Williams warns that they "don't want there to be excesses in financial markets... "

Two quick things...

The market has almost never been this expensive...

As Peter Boockvar warns: "Almost there. S&P 500 price to sales ratio is just 4% from March 2000 peak."

And investors have never been more concerned about 'black swans'...

Rationality Versus The Market

Posted with permission and written by John Rubino, Dollar Collapse