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What Do We Do?

May 21, 2010 – 4:47 pm

We are well into the 10% correction area for the indexes. This is considered normal, we just have not seen ‘normal’ since the rally began last year. All day on Thursday, as the market tanked, the pundits were all screaming the sky is falling, running around in a panic. That feels and smells like fear to me. You buy fear.

Of course where the absolute bottom might be in this correction is impossible to determine, but it is possible to recognize outsized moves in a normal market as well as the fundamental outlook for corporations and the economy. There is a reason you buy fear especially in an environment where corporate earnings are rising sharply and the economy is recovering. Stocks are on sale!

It is time to show courage and buy and if you are already in hold your positions. It is also past time to come back home to the U.S. Our stocks look very good at these levels.

Good Trading
Steve Peasley

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