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Folks seem to be at opposite ends of the spectrum - so what else is new. With the passage this past week of the latest aid to Greece, some are saying markets are undervalued, even after a strong week of gains. Don't believe me, read here:

http://www.bloomberg.com/news/2011-07-04/european-stock-futures-trade-little-changed-after-greek-aid-approval-by-eu.html

But then again, some people I highly respect are a bit more reserved in their forecasts over the next six months. John Mauldin, for example, sees some serious risks, which he spells out well in the next linked article. Pay attention to the graphs. They are quite telling, you might even say, quite graphic:

http://seekingalpha.com/article/277731-focus-on-the-next-half-year-less-certainty-than-ever

I tend to agree with John that there is more uphill than downhill for the remainder of the year (and probably next). We will see.

Either way, it is good to be free and have freedom of thought and speech. Enjoy your 4th of July!!!

Disclosures: None.