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Richard's Remarks

 

The multi-trillion-dollar question -- Are we in a correction or a primary bear market?

 

The answer, unfortunately, is that there's no satisfactory answer. I hate using the word "hope" in this business, but I sincerely hope that we're in a correction that might end at any time or at worst in another month or two. One measure that has become popular is the 20% measure. If the Dow and the major stock averages drop 20% or more, then it's presumably a bear market. But if you wait for the 20% measure, by that time, you're broke, so I'd rather depend on the Dow Theory.

 

I even saw that metric being applied to a single stock today. That stock was Apple. Apple has now crashed over 20% from its high, and one observer from Bloomberg today announced that Apple is now "in a bear market."

 

Why am I worried that we could be in ... Log in or subscribe to continue reading.


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