Not unless Alan Greenspan suddenly starts feeding the bears. Third-quarter GDP growth was revised up on Tuesday to 3.9 percent; consumer confidence in October posted its first increase in months. All well and good, but if the economy starts to overheat this winter, count on Greenspan being there with -- gasp -- a quarter-point rate increase. "There's no sign of a Fed raise yet," says Kadlec. "But if it happens down the road next year, this market will drop like a brick. Maybe 20 or 30 percent." Then it'll really be time to buy -- or so the '90s wisdom goes.
NEW YORK: Savvy profit-takers immediately nibbled away at the Dow's new record Tuesday, dropping the index 60 points by early afternoon. But the large buy-and-hold crowd needn't worry, says TIME personal finance columnist Daniel Kadlec: This bull -- pun half-intended -- isn't going anywhere for a while. "This market clearly wants to go up," he says. "The economy still looks strong, and Greenspan's rate cuts clearly worked. It just doesn't make any sense to fight it."