Market Chat: OUCH !!! -
Boy some good stocks have pulled back big time in the past few days/weeks. WSJ reported average NYSE stock is down 24% from its 52 week high, NAS average stock is down 35% from its 52 week high. If this doesn't qualify as a correction, I don't know what does. I have bought, then doubled down on INTU, ALK, tried to catch a bounce in LIZ, (did, but bailed on LIZ yest for small loss), flipped AOL nicely several times, but sold yest at 114 1/2 for small loss, and was really glad that i had. I think this is the time that tests our resolve, confidence, and bank account. I DO NOT see a fundamental change in the market, and consider this a corrective phase to counter the huge run-up we had in late June, early July. I hope i am correct. Larry, long and hopeful. (no snide remarks please, ron. gggg) |
