I'm one of those guys cheering for the correction. I won't lose my butt again.
After some downward momentum last week and a yucky ugly duckling today, the fat lady is coming. Can you feel the boards warping as she jumps in?
Well today's movement was a slap in the face. And we're not even in September yet. I expected more weakness but not a fall on your face. But either way, I'm still on the fence whether we're getting a 20% correction or a 40% correction. (I think we're getting the major economy killer in a few years) In the short term, bring the correction. I am not fearing it. I've been in shorts for a week or two and what I've seen is that my portfolio is going nowhere. As my shorts go up, my equities go down and seriously, it's balanced perfectly. No profit, no decline. So bring on the correction, I'll be buying doubling my current equities in a few months with short-driven profit.