I continue to believe this. But what I was talking about earlier, in response to Doug's vague "buy and hold is better" statement (which is only supported to the extent that most people who buy-then-sell ought to have just bought; it doesn't say anything about which ones to buy and why), was particular decisions about particular stocks.
>> My long term view is that it's got a lot further to go up ...
> Do you have any specific timing in mind?
Yes, I listed my two indicators that I believe would have to change significantly in order for my long-term view to change (amount of stock available and tax preference of 401(k) accounts). So far, it's status quo on both: the trend is up.