So Much For The Correction
Despite predictions of a steep decline after the quarter ended, stocks have surged so far this week. Is this it for the correction?
Quite possibly, at least that's according to CNBC’s Bob Pisani. He says the worst correction we have had since the March bottom was the 9 percent drop between June and July.
All other "corrections" have been in the 3 to 5 percent range. That makes it a miserable time to be a short, he says.
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Trader disclosure: On Oct. 6th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Terranova Owns (NOV), (MOS), (JPM); Terranova Owns Dec. Gold Futures; Terranova Owns March Sugar Futures; Terranova Owns Crude Futures; Terranova Is Short (CCL), (WYNN), (GRMN); Seymour Owns (AAPL), (STD), (EEM), (RIMM), (BAC), (MSFT), (SBUX), (VIP), (RTP); Najarian Owns (C) Calls; Najarian Owns (BRCD) Call Spread; Najarian Owns (DELL) Call Spread; Najarian Owns (GE) Calls; Najarian Owns (JPM) & Short (JPM) Calls; Najarian Owns (LAZ) & Short (LAZ) Calls & Long (LAZ) Put Spread; Najarian Owns (MSFT) And Is Short (MSFT) Calls; Najarian Owns (MYL) Calls; Najarian Owns (TEVA); Najarian Owns (ORCL) & Short (ORCL) Calls; Najarian Owns (RIMM) Call Spread; Najarian Owns (WFC) Puts; Najarian Owns (YHOO) Call Spread ; Najarian Short (AA) Calls
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