Guru Strategy: Jim Stack's naked truth about the current bull market

Investing expert James Stackwas one of the first on Wall Street to predict the stock market meltdown and recent bear market. In the late 1990s, the editor of the biweekly newsletterInvesTech Researchwarned of a high-tech bubble that would spread to other sectors and take down many small investors. More recently, he has left the bear behind and has been making the case that the economy is rebounding for real.

Even in the face of dismal corporate earnings, Stack says we have truly turned the corner and that recent stock market gains will not be short lived. In fact, he says they will continue through 2010. We caught up with Stack to discuss why this is the case. He makes an important point: Investors would be wise not to look at corporate earnings to figure out where the stock market is headed. Read on to find out why.