Week 9 - Here Comes The Correction

Here comes the long-waited correction and it was brutal. All three major indexes are now negative for the year, with NAS on the lead. As usual, momentum stocks are leading the market on the way down. Materials stocks, particularly uranium juniors are falling pretty hard. Gold also declined, which is somewhat surprising. I would have thought that many investors would have hidden behind the shinning metal. I was down by approximately 2.12%. While significantly better than the overall market, I can't say I am happy. I took a bit more profits (CAE.TO, SJ.TO, CVO, MSFT), trimmed a few positions, and raised a bit more cash. Where the market goes from here is anyone's guess. My view is that it probably will continue to fall a bit. I expect a 10% correction, and so far it has down between 4%-6%. I have a list of stocks on my watchlist and would like to build up positions.

Positions: CAE.TO, SJ.TO, MSFT: NONE; LONG: CVO.