MarketWatch columnist: "The main causes of a genuine bear market are not on the horizon"

Now other sectors fueled by speculative fever and cheap money — biotech, post-IPO social network companies and high-momentum stocks — are getting their comeuppance. But the broader stock market has a long way to go before it’s even in a decent correction.
                                       
Plenty of things can cause that, including weak first-quarter earnings, poor economic reports, and the fact that we’re entering two of the worst quarters for stocks in the four-year presidential election cycle.
                                        
But the main causes of a genuine bear market — impending recession or deflation, ultra-high stock price-to-earnings ratios or rapidly rising interest rates — are not on the horizon.
                                       
So unless you’ve borrowed to the hilt to buy Twitter or the biotech ETF, you should stay invested and not lose a minute’s sleep. As far as market shocks go, this looks like a mild tremor, not the big earthquake everybody fears.

~ Howard R. Gold, "Don’t let these stock market gyrations scare you; Opinion: It’s likely that we’ve seen the end of recent declines," MarketWatch.com, April 13, 2014