Stock Market Correction
I am not surprised about the selloff in the market today. Once Japan had their big one day drop it was bound to happen in the US market. I think oil has a role in today's decline, but I believe options expiration played a larger role in the drop. Plus everyone knows how most traders think. When something starts dropping they think it's going to zero, panic, and then sell. I don't think this a buying opportunity. Forward guidance for earnings needs to above expectations for the market to advance further. Gold, energy, select healthcare, and select technology stocks will be good longs in 2006.