"You can't build a reputation on what you're going to do." Henry Ford
Tuesday, October 2, 2007
10% Correction! What a Joke
The analysts were screaming for a 10% correction a few months ago and they got it. Two months later we are back over 14,000 and the bulls charge on. I guess the speculators came out of the market when we hit 14k earlier this year and wanted to get back in on the low, so they talked down housing until the market could not take it any more. With no decline in May they were looking for a correction and they got it. This market is strong in my opinion but it is amazing the power of momentum and media.