Anyone guessing on when the so-called correction hits, and how it might affect PKT or the sector? I've moved more into cash taking profits wherever they are and though PKT is the only stock I've added to, I am not buying till I see a major move down. Course, I'm the moron neophyte so you all know I'm not trying to suggest anyone follow my lead.
A correction is supposedly due and the sequester issue is coming up, however the market has a habit of doing the unexpected. I was planning to lighten up on my my bond funds anyway as a rotation from bonds to equities is also forecast so I have done it now and will add to my CEFs and ETFs when we do have a correction. With a trip to Europe planned have also shorted the euro again as it too should tumble.
Wow, lots to digest here. I can't figure out where to put a pile of dough and thought I'd wait, as I'm usually late to move into cash. The equity markets don't seem to want to move in either direction but maybe i'm just missing something.
Expect a correction when gasoline hits $5/gal, which seems imminent, or sooner based on other circumstances . Most refineries in the country were built over 50 years ago and require extensive mantanence.