The coming correction

[DavidS]

I think there's going to be a correction soon in stocks. We're up almost 1000 points in the past two weeks. At this rate, we'll be at 26,000 by the end of the year, not by 2016. So obviously we're going to see some kind of major correction in the market - because there is still bad news a plenty out there. I think we'll erase most of today's gains by the end of the week in or two days worth of trading.

 

[wimpy77]

we will see what happens along the week. i think when first quarter numbers start coming i think it will par back, i could be wrong toro and paulie will know better than me.

 

[Paulie]

I think there's going to be a correction soon in stocks. We're up almost 1000 points in the past two weeks. At this rate, we'll be at 26,000 by the end of the year, not by 2016. So obviously we're going to see some kind of major correction in the market - because there is still bad news a plenty out there. I think we'll erase most of today's gains by the end of the week in or two days worth of trading.

This is a retarded post, dave. The stock market's value is not projected based on any one day or week move. You projecting 26,000 by the end of the year because of a 1000 point gain in two weeks is simply ridiculous. It's common knowledge that the market corrects in overbought and oversold conditions. You're predicting something that anyone with a TV set already knows.

The potential bad news for this year could very well already be priced in, and there may be a serious chance that the market had bottomed. Of course there will be dips, as usual, but it's completely possible that more job loss data, retail sales, home sales, home starts, etc, have already been priced in. The only major changes they could cause at this point are extremely unexpected numbers being reported.

I also may be wrong as well, and I definitely think we're in for an overbought correction sometime soon, especially after today's performance. I have to say though, that I think we're seeing some reflation investing, and I think we may have seen the bottom at this point. We could touch 6500 again, we could even go a bit lower, but I really don't think we're going under 6000 at this point. The bank asset plan has finally been unveiled, and the market likes it. We could be seeing the beginning of the market's relation now.

I'm going to be buying a couple equities I've had my eye on starting tomorrow, myself.