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InvestAlert©: Post Obama's Fight Club Session, Correction Now in Progress


Subject: -10% Correction Ongoing
Date: 1/21/2010
11:23 AM ET

to Investors
DJIA penetrated its 50 MA this morning between 10:30 and 10:45 AM ET.  As result, the broader market will likely head lowerA market correction (-10%) is due and appears to be comingTake profits where you have gains and / or you might consider purchasing some put options to hedge your long positions.
At 11:40 AM ET, President Obama speech pending, viewed unfavorably by the marketExpectation: ban on prop trading (not sure, but that may be Unconstitutional).

Today, +36,000 in jobless claims were reported this morning, and yet our government leaders are focused on banning prop trading.  Sorry, but it's a bit frustrating.  Not interested in debating politics.  I'm only interested in the economy, i.e. many need to get back to work.
Regarding the correction, do not overreact as it will passDefensive stocks such as healthcare stocks typically fare well during such downturns
DJIA just broke through its 50 MA againWell, it appears the correction is now in progress.

Justin M. Hall 

Disclosure: This email was originally sent on January 21, 2010 at 11:23 AM ET to select investors that receive periodic updates and recommendations from Justin M. Hall.