Market Outlook May 08

This excellent fool thread is worth reading in its entirity, I thought I would log it here for future reference.  It contains contributions from most of the respected fool posters including emptyend, paulypilot, WShak and RoyDinsdale.

CockneyRebel argues his case that stocks are cheap while emptyend and WShak argue the opposite.  Thought provoking stuff, especially as I had the feeling that the market was running away from me and this serves as a reminder to take a sep back and think.