10 Reasons to Be Bullish

"Is anyone liking the long side besides me, Doug Kass and Ron Insana?" Jim Cramer wants to know. "Lots of bears here, lots of them, doubting every inch of the run."

Well, count me in as one of the longs. I have not doubted recent market strength and have used advances and pullbacks to adjust my positions. I've added new names, such as Home Depot(HD Quote), and sold or trimmed off others, as I did with iShares Dow Jones Transports(IYT Quote). Along the way, I've gone in and out of certain exchange-traded funds, long and short, and even leveraged at times (though I recommend this to only the most knowledgeable traders on a short-term basis).

In 2003, I was bullish before anyone else on this Web site was and, just as in 2009, perhaps a tad too early. There are many parallels between 2003 and the current market environment. I have developed several proprietary and original theories and statistics, which I have utilized over many years as a money manager and educator, that lead me to believe that now is, much like 2003 was, a great bullish opportunity.

Based on my research and experience, here are the 10 reasons why I have been optimistic:

1. Perceived or Implied Volatility: The VIX, which is a measure of perceived volatility , remains way too high. Too many newcomers to the market believe that at 30, it has corrected too far to the downside. ...