Mon 4/9/12 – 4:07 PM – Top for the Market?

Last week may have marked an important top for the market. We have had a series of small 3-day corrections over the last month after having almost no setbacks during Jan and Feb. This pullback seems different and I think you can look for a pullback of around 10% in US stocks. So far they are down 3% from their high.

I’ll address some of the issues in the newsletter which I hope to have out tomorrow. There was some good info in the WSJ today that I want to include.

European stocks were mixed, Asia was down slightly, oil was off 3/4%. Gold was up nearly 3/4% and may be nearing a bottom on its pullback that started in late August. Natural gas may also be nearing a bottom in its long slide.

Bonds were generally up, with corporate bonds doing less well than other sectors.

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