Financial Channel

Why all of a sudden everything is down? Especially the energy sector in Canada?

No specific reason most common I hear are:

Inflation fears, Bernake has seemed to look at increasing interest rates, which would make bonds more attractve then stocks hence the selling.

Correction: aka this sh*t happens such a big run must correct eventually

Profit Taking:

So is it a good time to get in?

Only if you know where the drop will stop. I you dont know that, wait.

Depending on what you beleive you could always buy 1/3 today 1/3 in 2 weeks 1/3 in a month and hedge your bets.

with your knowlege of the markets, no.

So, are you buying or selling or waiting?

Also do you think we are entering into a recession and these are the early signs?

Recession?

We, if you are referring to Canada, then I say no. Jobless rates are at an all time low, energy just correcting itself, its almost guranteed that oil and metals will go back up (hurricanes coming, Iran, China still building like crazy)

I meant US recession..

A correction was needed - especially in the resource sector... so here it is!

Today is a GREAT buying opportunity - through the end of the week. Many bargains appearing.

However, beyond small deadcat bounces.. it will take a while for the good stocks to climb back up and the old highs will offer significant resistance.

Welcome to the reality of the stock market!

I smell speculation. There will be good buys regardless of the situation.
In addition, it is difficult to determine when it is an ideal time to buy.

Although a tad bit mean, it is arguably the funniest comment I have read all month.

I don't think he was being sarcastic or funny, I 15_20_God was being honest, albeit brutally.

That is why we like 15_20_God

World markets got hammered in the last month. TSX even more so because we are metals and oil commodity based. My fave play copper is dropping back to sane trading levels.

*Everything* I own is in the red, luckily I "sold in may and stayed away" a little over half my my holdings to safe and boring interest notes at the first sign of this little downturn.

I already bought back in a little bit last week, which was obviously still too early.

Noone can predict where bottom will be, but if it drops much more it will no longer be considered a correction, but a trainwreck.