As Mr. Market took a big hit?
Or do you not know (or care about) what I'm talking about?
Kudlow says "Take a deep breath", which is always excellent advice before you dive out of the window on the 40th floor.
Noteworthy:
"Here at home—surprise, surprise—the usual round of doom and gloom pessimists jumped all over yesterday’s correction. The permabears exited their caves, heralding the beginning of the end. Only problem is, these guys been wrong all throughout the Bush Boom.
The fact remains that profits are high and interest rates are low. This means that U.S. stocks are undervalued somewhere between 10-25 percent, even after a fabulous four-year run up."
I dint panic but I hate to see momentum swing the other way.
ReplyDeleteCramer says the shorts will take the market down further and to hold off buying for now.
I'm not a big Cramer fan, but he may well be right, based on what we saw today.
ReplyDeleteI think there may be some opportunity Monday, if the Money Managers don't get in the way.
Here's a tip, if you like this sector....SCI.
Good size stock buy-back about to occur.