I doubt it will even go that low..5% correction max. Not saying that for any other reason but observation based on recent price action. Ultimately the market will decide and trends are good until they aren't. Lotta crazy notions on here based on wacky opinions.
Tell me again why Fas is going to go up more than 10%, then drop 10% and possibly go down 30% to 112. Will the Fed stress tests coming up in a 6 wks have any bearing on your on 'interesting' projections?
No problem. It is actually simplier than that. FAS actually has alot of growth left in it. Maybe 100-150% this year. The Market is getting a little top heavy. My charts indicate growth to 1550-75 in the S&P, another 3-4%. But, we are due a correctuion. Some would say way over due. I don't think the overall market will correct 10%, maybe 5-7%, but banks will as they have been on a terror. Thus the 10% up, 30% down and then possible to $200-220 over this year. Looks like a pretty predictable chart this year. Stress Tests will actually serve as the next breakout catalysts.
Also, Europe is about 1 1/2 years behind us. I actually believe that we will be able to play European Banks the same way after FAS reaches it's full potential later this year.