Mike yes, i was expecting a decent correction some weeks ago - i guess i got lulled into a false sense of security - i had a cue to this pullback because a lot of my sells werent quite going off ( yes, i was trying to take profits, but plenty issues and spp's on also )- even when i dropped the price a bit
I"m talking stocks like mgr ( i got out of a fair few though ), mof, idl and bly( spp held them down though ) , avx, ave, sun ( i was a bit greedy but nearly got there a couple times ), tam, try ( issue coming but got out of some on spike up ) and prr ( spp plan coming ) . I did sell ang, bdl, and earlier some mah among stocks i know you follow(besides idl and bly).
noticed tse particularly weak but i took profits at under 4 anyway and they are just getting back there. Will be buying opportunities again i'm sure ( some of those contractors are close to being buys again) as the mining sector appears not to be falling into a big downturn again ( as far as we can tell at present ).
I am in the healthy correction camp at this stage but i reserve my right to get more worried when Wall st keeps dropping!!! ( i have been optimistic since early April so i wont change my mind readily) .
I would have thought Dow should have fallen more than us, and i cant help but feel that a lot of our selling is overseas holders again- they had a nice ride what with the currency gains as well - probably a bit nervous and locking in those currency gains and they will come back in when the dollar is lower and some of the stocks have pulled back a bit as well.
