Overall market is ripe for a correction & will take ESI with it
The overall market is ripe for a correction. The stock market has been overly strong. It is highly likely that the market is due for a tumble once something shocks overly complacent investors. This always eventually happens as the market is cyclic and it cannot be avoided, but it is always good to be aware when the increased likelihood of such an event is occurring and that time is now. The contrary indicators of bull to bear ratios are telling the story of a near term top in the market.
When exactly the market next tumbles is hard, if not impossible, to predict, but it is wise to lighten up on equities as the time approaches. People who fear missing out on the upside of a market rally due to greed are all the more susceptible to the damage inflicted by market declines.
If the market is to decline in the near term, I have no doubt that ESI will decline to an even greater degree. This highly hated stock will be punished for sure.