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Tuesday, March 6, 2012
A significant correction is starting
I'm tied up with travel and meetings. So just a quick note on the market status. Today looks like a start of a significant correction, which I have talked about for weeks. There is a good chance that the market will try to bounce back tomorrow, given it was a quite a crash today. It is natural that people are not convinced about the correction and will try to catch up the falling knif, hoping to get in at the bottom. But I think more plummets are coming after initial bouncing back. Likely a 5-10% total drop may ensue before this correction is over. I will be ready to get in by then to ride on a significant rally in the remaining of the year. Hope I'm smart enough to spot the real bottom.
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