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Old 08-16-2007 | 05:41 PM
  #25  
beechbum
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Joined: Jun 2006
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We have been waiting for this for a while now. Thankfully it finally happened. We were in the second longest bull market in the history of markets without a 10% correction. On average, there is a 10% correction about every year or two. When the dow hit 14,000, along with the sub-prime mortgate mess, a sell-off began. Investors started to take some profit from the last 4-5 years. Today, the market hit the support level and immediately picked up about 250 points (market was down more that 250 points for the day, and closed down only 15). That is a very bullish signal. Is there more to come? Who knows, but the market is priced very well (even at 14000), and earnings continue to support the price level. The market is having a blue light special now...stocks are on sale!
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