We’ve had a “relief rally” since last fall, so now what? The market is up almost 25% since the end of last year’s third quarter.

We saw the same thing last year and in 2010 where a strong start to the year gave way to a market
correction which gave it all back. In fact, last year’s advance gave back almost 20% before bottoming
on October 3rd based on fears that there was no hope for Europe and its debt burdened members.