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The February 20th Newsletter Briefing has been posted. To access the newsletter portion of the website, simply click on the "Subscribe Now" tab, establish a username and password, and you'll have full access to the Dynamic Growth newsletter and portfolio. This free trial will end on June 1, 2007. Throw all rational market projections out the window; we are in the "Market That Never Goes Down". What is causing this massive piling on in the stock market? Well, something that you and I don't have the privilege of doing. Much has been written about the Yen carry trade in which certain individuals can borrow money in Japan at a .25% percent interest rate, then turnaround and use the cash to buy stocks, companies, or even bonds yielding more than .25%. What a racket! As for you and I, when we want to borrow money to do the same thing, we are either raped by the banks and brokerages for margining accounts or using a line of credit. See, there really are two rungs on the privilege ladder, us, and then, them. By them, I mean hedge funds and private equity. The question that remains to be answered is how much longer can this private equity craze continue? This is the 19th quarter in a row of double digit earnings growth for the S&P 500. The previous record was 13 consecutive quarters from the fourth quarter of 1992 to the fourth quarter of 1995.One reason that corporate earnings have been so strong is the wave of corporate stock buybacks in the past three years, and private equity is continuing to buy public companies at a premium which is reducing the net float of stock available. The never can lose mentality is beginning to embrace investors emotions. This type of attitude usually causes investors to make some serious errors in judgment.

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