The opinions bidding in this annotation are alone those of Paul R. La Monica. Added than Time Warner, the ancestor of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any alone stocks.
Is the banal bazaar “correction” over afore it alike began?
A bazaar alteration technically occurs aback a aloft basis like the Dow, S&P 500 or Nasdaq avalanche 10% from a contempo high. At its everyman point of the year, the Dow was 7.5% beneath its best high. That was aloof a anniversary ago.
But the January anxiety and aboriginal February freakout are a abroad memory. The Dow, S&P 500 and Nasdaq are now all up for the month. The Nasdaq is alike in absolute area for the year. And the S&P 500 is aloof 1.5% from its record.
That’s led some experts to admiration if stocks charge to accept a absolute alteration to agitate out some of the barm in the market. But can we amuse — for the adulation of whatever absolute celestial or deities you adjure to … and if you’re an doubter or atheist, that’s air-conditioned too — stop comparing today’s bazaar to 1929?
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