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A New WALL STREET HIGH

Whatever happened to the Patch posters so sure that the market was DOOMED under President Obama?

The Standard & Poor's 500 stock index topped a fresh milestone Friday, closing above the 1,900 level for the first time and highlighting the market's resilience and its fragility as the aging bull moves deeper into its fifth year.

Coming off its best year since 1997, Wall Street has endured a great deal of turbulence in the stock market this year, as one-time high-fliers in a small segment of the market suffered big declines -- renewing fears that the selling would spread to the more stable, blue-chip corner of the market.

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