The heavily anticipated correction finally arrived and somehow it caught everyone by surprise. As is the case in any correction, the market seems fraught with panic and confusion. “How low will it go?” What is the cause? These are the questions being asked broadly, and addressed by every so-called expert the media can find. In reality, as is the case in all markets where the investors were ill-informed to begin with and just jumped in because it felt right, nothing the pundits will say could allay their fears, and if the correction isn’t reversed in the early part of this week more selling will surely result.
I’ve been a lifelong Minnesota Vikings fan, which has meant dealing with a ton of frustration. Last week, after dominating the New Orleans Saints for most of the game the team fell apart in the final quarter, and with only 25 seconds remaining were losing by a point and seemed doomed to add to the five-decade history of sadness for Vikings fans. But a miracle occurred and the Vikings quarterback, unheralded Case Keenum, led them on a remarkable drive that culminated in a 61-yard touchdown pass as the game ended.