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[nimblebear]

Just like always in the past when markets peak, the retail investor piles in, too little and too late. This time though, the 3rd peak then crash, will be the one that actually creates a meaningful bottom. Because when this market goes down, and hard, and down deep, it will for many retail investors be the straw that broke the camels back. This 3rd time, will keep them out of stocks for the rest of their lives. That is, those that were old enough to have 'invested' anything in the first major crash of 2000. See nobody really got out of stocks in 2008. Records show that very few actually bailed permanently. Its a buy the dip mentality, that goes all the way back to the days of Alan Greenspan. Everyone is thoroughly convinced, the markets are now bullet proofed, and the FED can rescue anything and everything. I've never seen more people so cock sure about these markets since, well forever. At least since Ive been following them since the early 80's. 17,000 What ????? 17,000 worthless little pieces of electronic 'paper' that represent some fallacious index.