This guy says the market has nowhere to go but up! Ocf course its easy to find guys with the opposite opinion.

S+P 500 Going Back to 1250: It's a Great Time to Buy Stocks, Bob Doll Says
Posted Jun 10, 2010 01:19pm EDT by Peter Gorenstein
Related: ^ixic, ^gspc, ^dji, spy, blk, qqqq, iwn
Stocks are soaring midday Thursday. The Dow and S&P 500 have been up as much as 2% on the day. The gains are being attributed to strong export data from China and a better-than-expected reading in the weekly jobless data; continuing claims dropped by the largest amount in almost a year.

The timing of the rally couldn’t be better for Bob Doll, chief equity strategist for fundamental equities at BlackRock. Doll, who manages more than $350 billion, made his bullish case for stocks in a Wall Street Journal op-ed Wednesday and expanded on those themes in an interview with Tech Ticker this morning.

"Valuations are cheap, sentiment is very negative, that should be interpreted as a positive," he tells Henry. "Most people are underweight equities, there’s a lot of cash earning zero on the sidelines."

Though bullish, Doll is no Pollyannna. He’s well aware of the problems in Europe, the stubbornly high unemployment rate and the headwinds caused by a stronger dollar. "That will keep us from going up immediately,” he notes.