[quote=desmond] I can’t see anything in the near future for a correction other than a correction just for a correction.[/quote]
I agree with this. The recovery is still pretty fragile, so it could turn around. We have never had as many consecutive years of decreased public employment as we’ve had recently without entering a recession. Failure to reach a solution to the sequestration boondoggle could do it. Those risks notwithstanding, corporate profits are at an all time high and justify current market levels.
But corrections for corrections sake do happen. I hang with technical traders and it was almost unanimous among them that the market was going to correct 2 or 3% more than it did starting two weeks ago. Volatility was very low for a long time until then and it’s back down again. And the chart watchers are confused. Anything could happen. But if there’s no bad fundamental news, it’s time to buy the dips, sell the rallies.
