Do you think there will be a large, downward correction after the big run since March?

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JMO!!! I dont think we will see a major pullback- testing new lows. It was hard not to make money since March unless you bought in the highs of last year. Probably gonna see a lot of profit taking if the downtrend continues- but the sellers will be replaced with buyers. A ton of folks still had their money sidelined and missed the boat in March, I dont see them doing it again. The writing on the wall has shown that this will be a slow recovery-but to me its a chance of my lifetime to lock in on solid companies at firesale prices and ride the storm out... I'm pretty much a LONG HOLD player (I tend to do the opposite of what the pros advise) and I now focus on the dividend payers- somewhat diversified- high yield/high risk (DSU-GAIN-etc) to the lower risk companies (VZ-PG-etc)............

I do not think we will test the March lows but a 10-12% correction will probably happen.I also think that going forward only earnings will drive stocks not sentiment.

Throw me in the crowd for a pretty decent pullback. Market ran too high too fast and we are not near the end of bad news yet. I'm thinking 2nd quarter earnings are going to be a disappointment and the market will freak out again.

Aufan's predictions (which means nothing)

Dow Currently @ 8324.87 falls to 7500

Nas currently @ 1787.40 falls to 1600

S&P currently @ 898.72 falls to 810

I agree AUF! Yesterday I did some big time selling, I'm sitting on a wad of cash until this is over.....which may be a LONG time with this administration. Hell, they moved fn wacko Al Franken in yesterday....that just blows my mind.

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Al freakin Franken OMG.. a satarist who became senator, We really are in trouble

I will be referring to the DOW.

Well that "correction" I would say is already upon us.

I think 8000 will be a big support line (obviously). It all depends on how these Q2 reports go (or how we all EXPECT them to go). Id say 8000 will be test for sure, if reports are really disappointing then Id say we fall into the mid to upper 7000s (anywhere from 7500-7700) You have to remember that 7500 is still 600 pts(or 8%) away from our current level and we have already come down quite a bit.

So basically id say on the bottom end of things....7500 is absolute bottom, but we are more than likely going to play around in the 7700-our current level. To be honest though, I wouldnt be surprised if the 8000s held and we dont see much or any of the 7000s.

This isnt a bad thing, the market needed to come back after the huge run up during the "spring" months (pun intended!). Id like to see some correction then we can march forward for the rest of 2009 and hopefully give 9000 a run for its money by jan 2010.

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Well, it's still not here and the bears just keep saying it will be soon. LOL I dunno, we NEED one badly IMO.

I've been slowing selling shares and building a larger cash position. Time to take some profits and get ready for a correction just in case. When we get that correction, I will be well positioned to buy some shares at bargain prices.

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"A government big enough to give you everything you need, is big enough to take everything you have." - Thomas Jefferson

I learned a harsh lesson from January to March which is DO NOT FIGHT THE TREND; THE TREND IS YOUR FRIEND!

I lost a lot of money when the stock market crashed day in, day out from Obama's inaugural to the March lows when it was blatantly obvious that the markets were trending down.

Right now the trend is CLEARLY pointed up and until there is reason to believe otherwise I will continue to hold and look for new positions. Days like today with the Dow dropping roughly triple digits are good for adding. I think the Dow will hit 9,500 within a couple weeks (it's at 9,230 right now) which will put the S&P500 at roughly 1,030 and the NASDAQ at roughly 2,030....

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