20070614 FKLI traded as high as 1358.5 this morning, a big gap in response to Dow rally >180 pts. This quote is poignant on how the market is behaving and is a good warning of the impending moves ahead:

"This is a classic demonstration of the market's continuing denial of risk," said Robert Brown, chief investment officer at Genworth Financial Asset Management, contending that while the economic news is generally favorable, investors aren't pricing in adequate amounts of risk. "It wants to ignore the negative news and focus solely on the positive."
from Yahoo Finance.