Markets: A market rally in the mix

There's plenty of ammunition for stock market bulls as a falling dollar, low interest rates, strengthening foreign economies and a coming election all come into play.

The S&P/ASX200 index is just 109.7 points away from its high this year on May 14. Since June 25, when the latest rally started, it has gained 9.8 per cent and is now trading at about its 20-year price earnings ratio of 14 times forecast earnings. That is not putting off some fund managers, who see continued momentum for certain stocks and argue the limp domestic economy and, more importantly, disappointing 2013 earnings have already been priced into the market.



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