Not much action following the new Dow high. Not much follow-through. But no big breakdown, either.
As near as we can tell, the Fed's EZ money has driven up stock prices. Investors expect more EZ money. So they think stocks will go up more.
We are attending an investment conference in New York. What has struck us so far is how optimistic the young investors are. They think stocks always go up.
"I'm 36 years old," one explained. "That means I was too young to get in on the boom of 1982-2000. All I've seen are stocks going up and down. They're just a little bit higher today than they were in 2000 – when I was just 23 years old.
