I think it is altogether possible Scott, just because our 'horizon' is limited to a certain distance does not mean that nothing exists beyond that point.
Although having said that modern telescopes can see quite a long way into the far infrared part of the spectrum so it would have to be a heck of a lot of stretching to make something completely invisible to our current instruments.
Of course the argument goes that the fact that we cannot see further back than, I think its now a shade over 14 billion light years then that defines the age, and size, of the universe because the light from anything older would already have reached us but that doesn't mean to say that ever more distant objects will not be found as technology advances.
I am quietly confident that our view of the universe will extend our visible horizon further and further out as each year passes, always supposing our view is not obscured by something unforeseen of course.

This might be of interest?
http://csep10.phys.utk.edu/astr162/lect ... y/age.html