NEW YORK (TheStreet) -- It has been fashionable lately for traders and pundits to be cautiously bullish. Long-term they are reasonably bullish, but most are touting publicly that they are expecting a significant pullback in the near term to begin any day now.
Over the last couple of days, we've noticed links to some fantastic blog posts being shared on StockTwits. They're making the case that all this bubble talk is complete nonsense.
Market veteran Joe Donahue (@upsidetrader) points out that, now that market participants are getting what they wanted, they cite this as a reason that things are getting bad. You can't have it both ways!
A few years ago market pundits doubted the rally. They needed to see more M&A and IPO's. Now there is a little bit of both and they cry BUBBLE!!!
-- Joe Donahue
Then Joe rips into a history lesson about the late 1990's IPO market that puts to rest any such comparisons neophytes may be making between today's bull market and the maniacal rocketship ride we rode near the end of the Internet/dot-com bubble.
Joe Weisenthal (@TheStalwart) at Business Insider agrees with Joe:
So is the bubble back? Is it 1999 all over again? The answer is no. And if anyone says that this is 1999 all over again, it's because they don't remember 1999.