STOVALL: INVESTORS ARE SELLING THE NEWS
16 January 2010 by Cullen Roche
2 Comments
S&P’s Sam Stovall talks about corporate earnings and inflation:
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Comments
TPC,
Quite a few people are looking for a 5% to 10% pullback/correction in the next few weeks. Do you think one has started? Or since everyone now seems to be looking for a pullback again maybe the market jumps higher especially if a lot of new short positions are taken.
It seems to me that we won’t see a major correction until practically no one is expecting one. A pullback back to 1110 or so seems much more likely. The jump into the new year was quite extreme.
At this point,imho, all it would take is one good catalyst to send the market down
from a sideways trading range (with upside bias)….momentum would follow, and buyers would remain sidelined….just one surprise catalyst and the correction is underway….