Coming Up On Wall Street
Recall that February is a big dividend month.
As a novice follower of the market, three simple observations occur.
First, whatever happened to the "double dip?" Contrary to many expert economists, the double dip didn't.
Second, the DOW is at 11,500 and this is where yours truly was thinking the DOW would be at around September of 2011. We are perched on high.
Third, does anyone really think the DOW will crack 12,000 especially when cracking 11,000 was the biggest surprise story of the year.
A correction is coming.
Reuters: Santa rally continues as China hikes rates
The CBOE Volatility Index VIX .VIX, known as Wall Street's fear gauge, was down by two-thirds from this year's peak in May.
"We think there could be a correction of 5 to 7 percent" toward the second half of January...
"Currently, bullish sentiment has been rising, but we feel optimism is not widespread and only skin deep, which means that investors are likely to turn bearish at the first downtick...
"Odds are that a meaningful correction lies in the near future..."