Stock market correction

[njfan47]

The market is having a much-needed correction. It could end very soon. We could be in the middle of a so-called Thursday-Monday scenario. What normally happens here is the market declines dramatically Thursday, Friday trading is volatile (up then down or the reverse; but a lot of volatility). Monday rolls around and people start to feel better because there is some good news and because the market goes up a little on Monday morning. Then, the trap door opens and there is a selloff later on Monday and that is the end of it. What follows is a massive or at least a good-sized rally that starts late Monday or Tuesday.

 

[roxychknpoxy]

NJ -

From your mouth to the market gods ears ... btw, why is gas still above $3 per gallon?

 

[njfan47]

There is somewhat of a lag effect for gas to go down after declines for oil futures. Also, the oil companies are reluctant to lower their prices. But I don't think oil prices will stay down for too long. However, it was interesting to see Saudi Arabia talk about competing on price, rather than preferring a high price to a particular share of the market. Maybe the price of oil will decline more than I think. If so, I am going to lose a lot of money!