Extract from CNN news article this morning:
Are stocks oversold?
Global markets lost ground overnight. Stock indexes in the United Kingdom, Germany and France all fall by more than 1%. Benchmark indexes in Shanghai and Tokyo closed down 5.2% and almost 4%, respectively. Hong Kong's market was down over 3%.
There were plenty of other jitters. Gold, which often rises during times of stress, climbed nearly 3%. That hasn't happened since June 2016. The Fear & Greed Index, a CNN Business gauge of market sentiment, is flashing "extreme fear." Just a month ago the index was comfortably in "greed" territory.
However, Yardeni is optimistic the market will rebound because corporate profits are robust and no recession is in sight.
"We remain bullish on the outlook for earnings, and expect the market to recover and make new highs going into next year," Yardeni wrote. End quote.
I relate the last paragraph to THC and remain bullish on the outlook and earnings for THC and expect the SP to recover and make new highs going into 2019! IMO.
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