Tend to think the opposite here. I moved a huge chunk of my 401K into bond funds after the previous rate hike. Timed it fairly well. I ahve been now dollar cost averaging those funds bak into the market. I tend to think that we are going to get a rally right into the Fed Meeting and will see a pull back there after.
Additionally there are still a lot of companies that are throwing off good cash flow. For instance, the GAP (GPS).I studied this stock when it was down around $16. Had a lot of negatives but at the same time had tons for free cash flow creating a nice margin of safety. Other companies that are boring but steady included WD-40, and Clorox. So all in all I would tend to think that ther will be a correction by right now it looks like momentum is more upward then downward.
