Bull versus Bear; Which Wins?

Investors and other observers are watching a monumental clash between buyers and sellers.  Each is trying to get the upper-hand.  Some days the battle goes back and forth with the Dow averages changing more than a hundred points one way, then another.  One day the bulls win, then the next the bears do, and the next day the fight is a draw.

The averages belie the intensity of the fight.  They have remained close to their highs, but there has been significant carnage among certain groups.  Bio-techs, some technology, and past momentum stocks in general have been hit hard.  Rising in price have been more defensive names and categories.  As a result, the averages don’t show much damage when there has been plenty below the surface.

Corrections can occur in points or over time.  Another type is one that corrects certain groups and stocks and rolls through the universe as others come to the forefront.  That is the type of correction we are experiencing.  Some refer to it as a rolling correction.  This hasn’t just started.  It has actually been going on since last December.  It is probably near the end of the process.  Stay steady, my friends.