Out Too Far Over Our Skis

Today’s stock market is a ripper. It registers daily gains like nobody’s business and has become good that it simply cannot be taken down on the daily trading slopes anymore, not even for a few hours it seems. Lately, stocks have been jumping into some rarified air. While the daily trading action remains sick, it is reasonable to wonder whether the stock market’s repeatedly gnarly tricks may ultimately leave it at even greater danger of a nasty wipeout before it’s all over.

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