If you had asked me a few months ago if we’d see an all-time high on the S&P 500, I’d have said “no.”  I didn’t think the economy supported it, and just a few months ago, we were 40% below today’s levels.

But, the market is always surprising and I’m certain this rise caught more than a few investors off-guard.  

Personally, I’ve been 100% invested in my “long-term” account, but sticking on the sidelines a lot more in my “active trading” account.  Goes to show that the “set-and-forget” money usually does just fine.

So, where to from here?  I’ve been skeptical of the rise, so that always tempers my outlook.  But, for now, I see no clouds on the horizon.

I mentioned my “long-term” account, so I’ll show you a couple of those holdings. The first is Johnson & Johnson (JNJ).  A new all-time high?  Tough to argue with that.

Waste Management (WM) has also had a terrific run. It’s outperforming the market, but can it keep up a 15% per quarter rise?  I’d take that gain for the entire year!

Enjoy the holiday weekend. Back at you next Friday.

Gary B. Smith joined FOX News Channel in 1999 and is currently a regular commentator on "Bulls & Bears," including his own segment called, "The Chartman."