A Welcome Correction By Rev Shark About this article: It has been a while, but the bears finally managed a decent payday. Despite some seemingly good news from Wal-Mart, Hewlett-Packard and Intel, the market focused instead on a strong dollar and a buildup in oil inventories. Those are the primary justifications for some profit-taking. Of course, the fact that the market has had another V-shaped move and is somewhat overbought is another reason to support the selling. What is most worrisome about the market lately has been the action under the surface in small-caps and secondary names. The major indices have been boosted and still look pretty healthy, primarily because of bigger names like Amazon and Google. If you look deeper, you will see some major technical deterioration in many stocks. I have been complaining lately that there are far more short-side setups than longs, and that continues to be the case. After the run we... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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