Are company profits really up all that much? I sure don't see that the US economy has improved all that much by any objective measure. Is this the result of large volume trading or primarily institutional trading? Isn't this just a result of the fed pumping 80 billion dollars into the market every month?
Remember that a lot of these corp profits are being earned outside the US.
As the bubble grows so does the risk.. Guessing when the music will stop is a huge gamble.. The Fed is the last place to look to for any solution, all they are doing is prolonging, and postponing, the pain that is coming..