An Auspicious Moment to Begin a Correction

For the past 11 years or so, I have viewed the market to be in a high level consolidation, described often on this blog, and most recently Sunday in the post, Da parvis grandis acervus erit. In fact, readers and other investors should recall my frequent mention of the 1966-1982 'bear' market as my template for the current market environment.

The surprising, startling market rally of the past 9 months neither surprises nor startles me; I expected it. (Which does not mean the market plummet did not frighten me, as it did you.) So the news that journalists and other investors now, finally, see what I have seen all this time -- or at least one portion of it -- is gratifying.

Seems, then, an auspicious moment to begin a correction (whether of price or time), what with the increasing numbers of bulls.

Comments

[expat in China:]

you are so smart?

Aug 11 08:30 AM

[Old Trader:]

Certainly not one of the more useful articles I've seen.

Aug 11 09:24 AM