Behind the Stock Market

I’ve been ho-humming while everyone else is swooning.  Yes, the market is up.  Gee, though, this doesn’t feel like a boom to me.  The market is up 15 percent from a year ago, which is very nice, and above average.  But somehow it doesn’t FEEL like a boom. 

Key metrics in boom-feel: go into a bar during business hours and look at the TV: tuned to stocks, it’s a boom.  Tuned to a ball game, not a boom. 

What does the next door neighbor talk about?  Stocks, its a boom.  The Trailblazer’s dismal performance, not a boom.

People say, "The market is up–and this times everything is different!" it’s a boom. "The market is up–is it poised for a correction?"  It’s not a boom.

Barry Ritholtz has a good summary:  it’s global markets pushing U.S. stocks up.