] The economy is going to be good, so I don't think we see
] the start (yet) of the next major bear leg, although this
] year will mark the high for what I think will be many
] years. This will be a frustrating year for stock market
] investors. You can always do well if you are a good
] individual stock picker, but broad indexes and mutual
] funds are not the place to be. The market is a sideways
] to down market, with the risk to the downside as we get
] toward the end of the year and a possible recession on
] the horizon in 2006.
]
] And not to put too fine a point on it, I still think we
] are in a long term secular bear market. In a few years,
] we will look back and realize this was a bear trap -
] another sucker rally.

John Mauldin's 2005 Forecast