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My last trade was sold, while I was out of town. I am now 100% cash. It was been a rough couple of weeks in the market. The market appears to be going through a correction. The market has been on a tear since the first week of Operation Iraqi Freedom. Nothing goes up forever, or down forever. It was overdue for a correction.
A 10% decline is the official point to call something a correction. I reviewed the three markets and came up with the following. The S&P 500 fell about 5%, the Dow fell about 6.5% and the NASDAQ fell about 11.6%. I’d call recent market action a correction.
Posted by Ted at March 14, 2004 3:54 PM