Hi Paul,
I don't have a number, however I have this feeling that it may be longer lasting than many expect. Reasons: the Asian flu, which at one time was thought not to reach Western shores, is now more and more problematic. Japanese Yen record low this morning, China and Hong Kong may devalue their currency.... causing trade problems with the West, lower corporate earnings, and so on, and so forth.
To compound the problem further, U.S stocks are at range of highest PEs, and have lots of room to fall if market sentiment changes for the worst.
The Cdn looney is clammering for Govt intervention for higher rates. If Canadian rates go up... stocks will take yet another beating.
OTOH, this could be just the correction needed to continue with the bull market.
Oh, where is my crystal ball? |
