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<p>[QUOTE=&quot;mikem2000, post: 1403994, member: 30574&quot;]Doug, you are simply reading the chart wrong. For what ever reason PCGS chose to use a linear chart instead of a logarithmic chart. While technically accurate, viewing the graph plot shows a distorted view of what is really happening. All stock graphs I have evers seen are shown on a logarithmic chart. </p><p><br /></p><p>You stated the huge run up in prices has occured over the last 10 years, but if you look at the data, that is untrue. The last 10 years, the market went from 12,000 to a little better than 26,000. Around a 120% increase or about 8% a year compounded. Nice gain, but not through the roof, and certainly not idicative of a bubble. Also that is not even close to the 10 year period where the index got it biggest gains. Look from 1970 - 1980. It went from 1000 - 6000 for a whopping 500% increase or around 18% per year.</p><p><br /></p><p>So what you are looking at is a misleading chart and not a huge spike. Where this market is going, I or any one else does not know for sure, but there was no spike, no bubble, no irrational exhuberance. When our old buddy Easy AL Greenspan was speaking those words he was speaking of gains north of 100%-200% per year, not 8%. </p><p><br /></p><p>From the point of a chart technician, this chart looks solid as they come.</p><p><br /></p><p>Mike</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p><img src="http://www.cointalk.com/attachments/169326d1332678876-keysallgraph.gif" class="bbCodeImage wysiwygImage" alt="" unselectable="on" />[/QUOTE]</p><p><br /></p>

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