Yves Lamoureux thinks a second coming of sorts is on the horizon. The president of Lamoureux & Co. says he was pounding the table in late 2008 calling equities the buy of a lifetime. Not to worry if you missed it, in the attached clip he explains "there's a second buy of a lifetime coming."

Lamoureux sees a double for equities in the next few years, just not from these precise levels. Over the next six months he believes there's going to be another spike in European bond yields, not unlike what was seen in 2011. As was the case then, these concerns will spill into equities pushing stocks lower by some 10%, according to his forecast.

At that point the Great Trade will involve taking money out of bonds and putting it back into equities. When bonds roll over and Europe fails to improve at the pace being hoped for currently, Lamoureux says the only place to go will be American stocks.

In case that wasn't already the most glum call for an equity double ever, Lamoureux also thinks most individuals will miss the move. He believes stock indexes will be pushed by narrow leadership and low trading volumes. The participants, he says, will be commercial money being invested on behalf of the banks where the public puts idle deposits.

In other words, individuals seeking less risk will give their money to banks who will, in turn, seek higher returns by passively picking away at the long side on a small group of stocks.

We may get Lamoureux's projected double, but if it comes the way he anticipates, lets just say no one is going to be dropping any balloons when the Dow hits 25,000.