Is this a normal correction, or the beginning of the Big Kahuna?
Webdrone,
I have and continue to invest under the philosophy that until we have significant overheating of the economy, and Fed tightening to combat it, this market is not going to become a bear market. Obviously, we will have corrections, even big ones, but the bull is intact.
Further, the big caps have been overbought making the DOW vulnerable. Now this may hurt the rest of the market short term, but under this philosophy one has to use this as an investment opportunity in these stocks. They have already corrected significantly.
IMHO, any positive earnings report in the high tech, especially those involved with boxmakers, will significantly benefit Apple. The opposite is also true, unfortunately.
I hope that we have an opening spike down tomorrow followed by a lasting up trend. This would afford Apple another opportunity to demonstrate its relative strength. If you are gutsy, it is also an opportunity to pick up Aug 35 calls for less than a point. An uptrend could bring Apple over 35 at market close, even if it is down to the mid-33's early. I'm having fun, and sooner or later, the market is going to spank me.
Sam |
