Stocks are just points away from their all-time highs.  And there are plenty of arguments why this could be a top for the markets.

But the bear case for stocks is mostly backwards-looking or based on short-term risks.

Yes, global growth is slow.

But the economy is still growing, and S&P 500 companies are actively increasing exposures to regions where growth is hot.

Yes, profit margins are near all-time highs.

But it’s a mistake to think things revert to the mean just for the sake of mean-reversion.  There are plenty of reasons why margins will stay high.

Some skeptics think that the stock market is being driven by easy monetary policy.  And they warn of a time when the Fed tightens.  But evidence shows that stocks can continue to rally amid a tightening Fed. And the Fed is expected to remain easy for a long time.

As you’ll see, the bull case for stocks is quite robust.

Read more: http://www.businessinsider.com/why-the-bull-market-can-continue-2013-3?op=1#ixzz2MaHtQrib