That down day always comes. Always. I like up days too but after a certain number of them I used to go to cash before discovering short vehicles. Down days are necessary before the market can move forward sustainably. It's just the way it is.
Oh, but look at all the GOOD news we've had this week!
- Factory orders were down less than last month - GDP only contracted at an annualized rate of 6.1%, down from 6.3% last quarter - initial claims was 630k, down from last week - The Consumer Confidence Index was all the way up to 39 - sure that's down more than 70% from '07, but at least it's no longer at historical lows - Consumer spending was up as people spent their tax refunds on things they needed but couldn't afford last quarter...fewer of them have jobs now, and there won't be as many tax refunds next quarter, but it shows that they're more willing to spend than before
We're seeing green shoots all over the economy! The market looks 6-9 months ahead, and...and...*bursts into a fit of explosive laughter*
I'm sorry, but I couldn't do it with a straight face! It's astounding what they're trying to spin as "good" news these days. There isn't any *real* good news to be found anywhere, so they're desperately trying to grasp at straws. If it's bad, but it's not quite as bad as the last report, or if the average analyst thought it was going to be even worse, that means it's good.
Oh, wait, I know - all the bad news is "priced in" with stocks valued at approximately the historical *average*, and double the typical bottom for a bear market, because if they're 45% cheaper than they were at the top of a speculation bubble, then they're cheap. Tell that to the Japanese. ROTFLMAO