But you really shouldn't feel surprised as the market has run up for over 2 months. I think a correction of few percentage point is not a big deal since the Feds will keep pumping the money into the market. Considering all the money at sidelines and the policy changes in Asia the market should still have more new highs to go when money comes back to US equity market. In addition, if you have QE2 then you can have QE3 as long as Ben is around. When the economy holds up until the unemployment rate goes down further, everything will be fine.
SPX from Stockcharts.com
Everything was down on Friday.
Cisco's management outlook for next quarter certainly triggered some fear about the economy. But hey, isn't that why Feds put out QE2?
Still, be aware of the market condition and focus on individual stocks is my practice.
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