Don't you hate it when someone says "healthy correction"?
I think all corrections are unhealthy when they involve earnings, because stocks don't rally after guide-downs. They sit or they stumble, but they don't rally.
Do you think American Express (AXP) is set to rally after that quarter? Maybe if there is an activist. Heaven knows there should be one while that firm is being eviscerated and the board doesn't even know it.
How about retail? You know there's nothing to say about retail after this run other than, "Whoa, let's rein that in." We have had it go straight up without a single strong consumer number.
Or how about the industrials? With Honeywell (HON) guiding down, isn't there much to be digested until the dollar most certainly tops out?
When GW Pharma (GWPH) -- my spec on cannabinoids -- the beaten down Schlumberger (SLB) and the red-hot Skechers (SKX) are the only green on my screen, let's just say it's time to give it a rest.
Hope for a down opening Monday so we can regroup.
And with that, I am off to the prenuptial dinner!