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Old 08-16-2007, 11:06 AM
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This is not a correction. It's uncertainty. Wall Street hates a lack of information. No one knows the true extent of the sub prime problem. Until Wall Street gets a good grasp on it buyers will be limited. In the meantime we'll get some bargain hunters coming in to prop up the market a bit, but I don't expect any major bull run until Wall Street figures out how to price in the issues in sub prime. But this is all short term stuff. The global economy is sound and the American economy, while slowing, is also sound. So in the longer run stocks will be fine. I say buy now while they're on sale.
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