On the Road Again

(1) Playing country music backwards. (2) Willie Nelson and the economy. (3) Second Recovery scenario on track. (4) Employment rebounding. (5) So are housing and construction jobs. (6) Transportation stocks are cruising to new highs. (7) Restocking, and borrowing to do so. (8) Sentiment is wildly neutral. (9) Financial press advises investors to curb their enthusiasm. (10) Shiller says: “Who Knows Why?” (11) Analysts are rationally exuberant about earnings. (12) Valuation turning more exuberant too. (13) The secular bull case.