As for the market, we’ve just had a great 10-week surge, in the big 2010-2011 bull market. But now it’s time for a rest, what technicians call a correction. The correction, according to fundamentalists, began when Cisco’s management said the future was not so rosy, and it accelerated when fears of a Chinese interest rate hike spread. If you need such “news” to explain the decline, I understand. But here’s my two cents. The market needed this correction. It was too strong, too overheated. It needed a bucket of cold water dumped on it. And now it needs to...
