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I don't know if you can believe anything the media says about the stock market. Missed profits for one or two companies might be an excuse for some selling of those stocks, regardless of who is to blame. But it doesn't explain overall market behavior, as the media would like to have you believe.
For example, the last few days we have been seeing a market correction. Not once have I heard the obvious explanation for such a correction from the media: PROFITTAKING. Pure and simple. There has been a runup, and the big boys are taking profits. Sit tight. They'll be back.
No, it's not about real estate (a favorite whipping boy of the media lately--the market is just fine where I live--but it's been devastated in Florida, with false alarms from the media about hurricanes the past year or so, which have skyrocketed property insurance there).
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