be very cautious

with stocks at all time high -Avenue Supermarts Ltd trading at a p/e of 100!!!! one should be very cautious. The indicii are also trading at a high of 21... all the veterans agree that the maximum upside to the market is about 30 %. I think the downside risk is same or much more than that. The warning signs are all there...global rise in stock indexes irrespective of the economic fundamentals...rising interest rates in US... To be sure this boom like always will be followed by a bust...so this is the time to be very cautious with a high inclination towards sell...