The newspapers and TV channels all reported the Dow 15,000 story as though it were just a stepping-stone on the way to 16,000... or 20,000... or 30,000.
Heck, the sky's the limit!
Investors have reached a new level of bullishness. They're borrowing again to buy stocks, confident that prices go in only one direction.
Advisors, too, seemed sure that this was not the end of a trend, but the beginning of one. Just what you'd expect at a market top.
There's also a swift current of economic analysis telling us that the commodities boom is over... that the Fed has the situation under control... and that the bull market in gold is finished.
All of which is amazing... and often breathtaking.