The Inevitable

I didn't plan it this way, but my comments this evening must pertain to the stock market. The tape is horrible, I feel panic in the air, or at least a somewhat oversold condition. The proverbial "baby is being thrown out with the bathwater". That said, I have learned that conditions always seem to get worse before a bottom is put in.

I am considering closing out certain positions and even taking a loss and repositioning with better bargains that are emerging. When we have corrections, it's always important to remember what counts is what you own coming out of the correction. And, of course, be mindful of Ben Graham's voting machine versus weighing machine concept.

These are often great times to invest, when you can find stocks that get battered to a point where very low expectations are priced in. I love that.