Goldman strategist Abby Joseph Cohen is bullish on the market. Last week she said the recession's been over for several months and thinks fair value for the S&P is between 1,250 and 1,300. With the S&P at 1,109, that would mean we are 12%-17% undervalued. She likes technology from business investment, commodities from improved global demand and sees share repurchases/m&a activity from cash on hand. She was on Bloomberg radio last Wednesday. Cohen's call for 1250-1300 is unchanged from her view in December, 2009 (videos). Maybe she can get Goldman Sachs ($GS) over its 200DMA while she's at it. If she's right a break above 1,150 would probably be an area to get long in size with put protection to $1,300 (not a recommendation). Until then... Ride the double dip (where the black swans at?)!