Attention: This is Not a Stock Market Correction – The Daily Reckoning
The bull market has warped your brain.
For the better part of the past year, stocks have offered nothing but backslaps and high-fives. Your favorite names streaked higher. Your losing trades were few and far between. And most importantly, every single setback miraculously ended in furious buying and another round of new highs for stocks…
That’s why you’re convinced we are now in the midst of a major market correction.
But I have news for you…
That’s why you’re convinced we are now in the midst of a major market correction.
Not yet, at least. No, the action you’ve seen over the past couple of weeks is a minor pullback at best. That’s it.
After the market mercifully closed Friday afternoon, investors had the chance to stew over its downright awful performance over the weekend. The Nasdaq dropped more than 3% on the week. The growth stock rout continued. But a correction? Not even close…
The NASDAQ hasn’t breached its February lows yet. That’s right. Even after last week’s gut-punch, the tech-heavy index isn’t even trading at 2014 lows.
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Attention: This is Not a Stock Market Correction – The Daily Reckoning
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