I am tired of reading the hysterical pundits who claim that now that the Nasdaq Composite has retaken its 2000 high, the market is a bubble and near a top again. Are they for real? During the 6 months leading up to the March 2000 top, that index had a climax run, rising from an October low of 2632 to a March 2000 high of 4573 (see monthly chart below). That is an increase of 74%! During the past six months in 2014, the Nasdaq has climbed from an October low of 4117 to a recent March high of of 5009. While nice, this is a rise of 22% and nowhere near the climax run experienced in 2000. Market tops often come after a huge advance that brings everyone in. It is yet to come this round.
Compare to current chart.
THE PAST IS NOT THE KEY TO THE PRESENT !!
History does not repeat but it rhymes.