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New York Trader: Poking holes in this bull market

Traders on the floor of the New York Stock Exchange.
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Traders on the floor of the New York Stock Exchange.

There are a few overused phrases for describing the equity markets' strength these days:

"Low energy costs are a tailwind."

"The U.S. is the best house on a bad block."

"Where else are you going to put your money?"

"Corporate balance sheets are in better shape than ever before."

One by one we are poking holes in this supposedly unbreakable bull market.