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(4/25/15)
As I mentioned in late 2014, since 1885 when a year has ended in
the number "5", the S&P Composite has always had a positive
return. I have no explanation for why this streak has remained in place
for so long.  Meanwhile investors continue to
borrow money to buy stocks as the amount of NYSE Margin Debt made a new all time
high in March. The last two times Margin Debt increased substantially in
1999 and 2007 major corrections eventually followed in the S&P 500 (points A
to B). As mentioned above it's certainly possible 2015 will end up being a
positive year for the market however 2016 may end up being a different story. 
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