A 10% to 20% pullback could strike stocks early next year, long-time bull Ed Yardeni warns (via TradingNation)
The long-time bull believes the record rally will take a breather because valuation multiples are getting back to nosebleed altitudes." on Friday. "I've been shooting for 3,500 for the S&P 500 by the end of next year, and we're getting closer. Faster than I would have expected.
""[A] 10% to 20% [correction] would be quite possible if this market gets to 3,500 well ahead of my schedule," he said., Yardeni said: "I just don't want too much of a good thing here. I'd like this bull market to continue at a leisurely pace, not in a melt-up fashion.""Bull markets do best when you've got a wall of worries," Yardeni said. "What I'm worrying about is nobody is worried anymore.
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