At times like these when everything seems to tank and the death knell headlines loom large warren buffet says "re-watch your favourite Super Bowl commercials, get ice cream with your kids and say hi to a friend you haven't spoken with in a while."
In other words keep calm. Although nobody knows for sure what the future holds corrections are part of a normal healthy stock market.
Jesse Livermore arguably one of the greatest traders of all time said“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
Minnervini also states " more than 90% of superperformance stocks emerge from bear markets and general market corrections"
Why is he so sure? Simply because although no one can predict markets one thing that remains constant over the years is human behaviour. Panic, greed, etc will always lead to losses but also opportunities.
Its easy to see the opportunity with hindsight eg. market fall after June Brexit referendum but it takes bravery to act.
What do I think?
For what it is worth I believe as the underlying fundamentals are sound it is likely to be only a correction. Having said that volatilty is also the norm and we may get the floor tested one more time.
So for me the time is of an opportunity but we will see.

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