Billy Ford

Downward Correction Could Be in Store for the Markets

I think the purpose of the blog is to warn you of chasing this rally. Of course we all want the market to keep moving further and further along, but lets face reality, we have came a long ways in a short amount of time. What is this recent move based upon? NOTHING!! We are still losing massive amounts of jobs every week, all aspects of housing are still moving down, and the only positives are sentiment reports (which are based primarily on this unjustified rise in the equity markets). I personally would love to see a nice healthy pull back to the 780-800 mark, because there is a ton of money still on the sidelines. If we pull back, then more money and NEW money will enter the markets and give us a potential beginning to a solid bull market. I personally just dont think that is possible without some sort of healthy pull back 15-20%. But again , just my opinion, and I am just like you....