After a three-year run for the S&P 500 ( SPY ), averaging returns over 20%, and an index P/E ratio that is running at double the historical average rate, there are valid doubts about the possibilityAnalyst’s Disclosure:I/we have a beneficial long position in the shares of GLD, SVM, B, EOG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relat ...