Paul,
Thanks for comments on MAX - decided to pass on it.
On Bear vs. correstion: My wife and I were out last night and I got irrefutable proof that this is a correction - the hemlines of dresses. My eyes are a little bloodshot and my ribs hurt from my wifes elbow, but I toughed it out and examined all of the evidence available because I wanted to make sure my research was valid.
To those wanting more expert opinion, the one I have trusted most this past year has been Mary Farrell of Pain Webber. She says we have volatility in a Bull market, earnings reports will be generally good and the market will start stabilizing late this Q. Expect a reversal as investors and funds will not be satisfied with below 6% return from bonds, strong bullish market in 2Q. "Baby being thrown out with bathwater" and there's some really good buys.
This was echoed by Abby Cohen of Goldman Sachs (normally bearish) saying there's a big inflow of foreign monies to equity and bonds, S&P companies will show over 8% earnigns growth, DOW may be unstable for a week or two prior to earnings but first to recover and be above 8700 by end of the year, last half of the year the emphasis will be on small/mid caps. Recommends Financial Services, Banking, and that investors take a good look at some of the foreign stocks like Fijitsu.
I see more evidence with headlines like "Investor panic about Asian situation isn't warranted".
I believe we will see a market turn around this week, possibly as early as Monday. I've seen signs of strength in my buys with bargain hunters ready to take advantage of the panic sellers. High volumes but very little downside movement and gains on my recent buys.
For what it's worth,
Ron
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