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Expect a 10% or worse correction in U.S. stocks by mid-August, says this forecaster with a proven tr
libertybele:
10% ?? We're due for a market correction, and with runaway inflation and shortages of goods, I think we're likely to see a correction much, much worse than that.
Expect a 10% or worse correction in U.S. stocks by mid-August, says this forecaster with a proven track record
To be sure, predictions are a dime a dozen on Wall Street. But this one comes from Hayes Martin, president of investment advisory firm Market Extremes. I was introduced to Martin’s work several years ago and since then I’ve found his predictions of market turning points to be impressive. (For the record: Martin does not have an investment newsletter; my newsletter-tracking firm does not audit his investment performance.)
I devoted two columns to Martin’s forecasts over the past year, and both proved prescient. In May 2020, I concluded that “the stock market… is stronger than even the most bullish investors believe.” In January of this year, I wrote that the market was still “firing on all cylinders.”
In an interview on July 14, Martin said the U.S. stock market today is most definitely not firing on all cylinders. In fact, he said, the market’s internal health is now worse than at any time since October 2018. That was the beginning of a 20% decline in the S&P 500 SPX, -0.75% and a 26% decline in the small-cap Russell 2000 Index ..........................
https://www.marketwatch.com/story/expect-a-10-correction-in-u-s-stocks-by-mid-august-says-this-forecaster-with-a-proven-track-record-11626380633?mod=home-page
Free Vulcan:
I have to admit I agree. The market is starting to look tired and wobbly.
The problem is the monetary effect. What it should do and what it will do might be two different things.
cato potatoe:
Is anybody else reallocating for the short term? My financial advisor sees a 10-20% pullback in equities, followed by a resumption of the bull market due to fed lunacy.
IsailedawayfromFR:
--- Quote from: cato potatoe on July 22, 2021, 03:09:19 pm ---Is anybody else reallocating for the short term? My financial advisor sees a 10-20% pullback in equities, followed by a resumption of the bull market due to fed lunacy.
--- End quote ---
Wouldn't surprise me to see a 10,000 point drop.
Focusing on no new accumulations, value and dividend stocks make up bulwark, and keep lots of cash to ride it out
Free Vulcan:
--- Quote from: IsailedawayfromFR on July 23, 2021, 12:24:02 pm ---Wouldn't surprise me to see a 10,000 point drop.
Focusing on no new accumulations, value and dividend stocks make up bulwark, and keep lots of cash to ride it out
--- End quote ---
Right now the market looks like crap. Monetary effect not withstanding, I think we're very close to a big down move.
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