3-month market rally raises question

The rally has added 2,220 points the Dow Jones industrial average to put it within a dozen points of being flat for the year. But the Dow is still down 5,400 points from its high of 14,164.53 in October 2007. But some analysts contend that investors are in danger of setting expectations too high for how quickly the economy can recover from the recession that started in December 2007.

Even if the worst is over for the economy, investors are still staring at a long list of worries. Housing remains in a funk and unemployment sits at a 26-year high. The government said Friday that employers shed 345,000 jobs last month, the fewest since September. But unemployment is still a high 9.4 percent after four straight months of slowing layoffs.

"Are we getting ahead of ourselves in terms of market levels? I believe that we are and I think investors would be wise to take some profits off the table," said Walter Gerasimowicz, chairman and chief executive of Meditron Asset Management as reported at Yahoo Finance.