The Dow that is.... I wonder what the impact of the final outcome of the helathcare debate will be on the Dow? If the Public Option is adopted and you believe what some say that it will mean the end to the Ins companies (Health Ins) that would have to have some impact.
I think it might be awhile before they tackle dentistry and other healthcare providers...but no doubt our time will come.
I'm not uncomfortable with these levels....the lows we saw this spring priced in virtual armaggedon for asset prices, much of the bounce is as a result, imho. That said, I wouldn't mind a little beather here before we tackle the next advance, but from a "valuation" point of view I don't see anything excessive unless you are a firm believer in the "double dip" scenario.....