giving up gains of 2006, fear of inflation, all stocks have been hammered and continue to do so. I hear the "pros" say that a pull back was needed and helpful, excuse me, it doesn't help my portfolio at all, let alone others. Yet, the company earnings I thought were pretty darn good. And I don't see the economy giving up that much of the momentum, at least currently.
But, patience is the key, we will probably see continued declines as the markets prepare for higher interest rates, which I believe will hurt the general econcomy more than high fuel prices, the interest rates effect all businesses and individuals. All people who mortgaged homes with variable rates will soon start turning the homes back to the banks as their payments will almost double with the higher interest rates, then the FED will really have to scramble.