Posted By: topannuity   Date: Fri Oct 2, 2009

Title: MSI at pre-2007 peak levels

Message:
  Any thoughts on how MSI appears to reflect a "fully-priced" stock market at this time. MSI is at 2007 peak levels.

Response:
  That's an interesting observation but it is different this time. The expectation is that earnings will improve and interest rates will hold at (or near) current levels. If this is true then the MSI will increase which would leave room for higher stock prices.