New Column: Top 10 Myths of Tuesday's Correction
I'll get some more color up on this later, but before I head out, I wanted to get this posted:
My Top 10 Myths of the Correction of 2007
1. Chinese regulators caused the meltdown
2. It was Greenspan's fault.
3. Blame China's market crash.
4. A Dow Jones Glitch caused the plunge
5. Prices Fluctuate
(And we got fluctuated pretty good)!
6. Stock prices will be higher six months from now.
7. Selloffs such as this are healthy.
8. The Fed stands by ready to cut if this gets much worse.
9. The market is not forecasting a weakening economy.
10. This had nothing to do with anything fundamental!
There are specific details under each of the 10 points posted with the full column.
>
Source:
Top 10 Myths of Tuesday's Correction
TheStreet.com, 3/2/2007 3:38 PM EST
http://www.thestreet.com/newsanalysis/investing/10342162.html
Friday, March 02, 2007 | 04:00 PM | Permalink
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Comments
The quick pull back => buy-the-dip and drive it back up.... flow of this week's action is testing the buy-the-dips crowd.
The smaller and smaller dip was encouraging (for Bulls) until Friday late in the session.
I can understand traders wanting to go home neutral, but the main thing we've learned this week is there's a vicious debate going on: Bull vs. Bear.
Posted by: VennData | Mar 2, 2007 4:13:42 PM
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