Down Day for Stocks

From the Street.com today:

“The market has been stretched for the last three months, and there’s been lots of speculation,” said Phillip Roth, chief technical market analyst with Miller Tabak. “It’s been destined to crack, but no one knew which trigger would do it.”

1. A market is stretched? A market is a market. There is a price every day. They don’t stretch either up or down. They do go up and down.
2. There is always speculation in markets. Same as it was a 100 years ago, 10 years ago, 1 year ago and today. Nothing new.
3. “Destined to crack” will always be a subjective statement.
4. When a market goes up or down, fast or slow, there is never a way to truly know the “trigger”.

What to make out of today? What’s the big lesson? Stocks went down. You don’t like that answer? You want a story? You want to feel better by attempting to “understand”? There are lot’s of folks who can make you feel better with endless “why” theories. I am not one of them.

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