Many Wall Street strategists have raised their stock-market targets in recent days, as major indices continue to notch record highs.
Renowned short-seller Bill Fleckenstein remains in the opposing camp. Not surprisingly (because short sellers make money when stock prices fall), he sees a good chance that equities will tank in coming weeks.
"I think the stock market is more crash-prone than ever," he told CNBC. "So will we get through September and October without some sort of an accident? I don't think we will, but I don't know. We'll just have to see."
Editor’s Note: New Warning - Stocks on Verge of Major Collapse
The S&P 500 has nearly tripled since March 2009, but Fleckenstein said he has no regrets about missing out on the party.
"If you want to pursue idiots like the Fed doing crazy policies, and if you think you can get out in time, go for it. I don't want to try to do that. . . . When markets decline, how fast it will be taken away from you."
The Dow Jones Industrial Average hit an all-time peak Tuesday, and the S&P 500 did so Sept. 4.
Some market participants are concerned about the strong positive investment coursing through the market.
"It's kind of scary, isn't it?" Jim Cahn, a Minneapolis-based financial adviser with Wealth Enhancement Group, told The Wall Street Journal.
"When no one's fighting about which way the market's going to go, it's dangerous. If they turn out to be wrong, everyone runs for the door at the same time."
Editor’s Note: New Warning - Stocks on Verge of Major Collapse
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