Market on pause

• The market continue to correct after a multi week rally. Nothing seems to be as bad as the bearish commentary suggests. Some markets are poised to take out their high.

• The oil prices continue to drop. Gold is being taken to the cleaners. Commodities bull market is dead and unlikely to find bid for many months.

• The housing stocks continue to defy the sky is falling analysis of the bears. If you read some of the blogs/ commentators on housing, it seems like every home owner has panicked and is selling his house. It a crisis of untold proportion. Run, run, run for your life. Sell your house today, if it is not selling just keep lowering the price. Now ask yourself, is that what is happening in your community. The so called experts on housing crash have no idea of consumer behaviour and how markets for high ticket items work. Houses are not stocks that because prices are falling people will sell. If the bearish commentators are willing to sell house at discount, I am a willing buyer.
  

• If you are ready, one of the best season for finding good trades on both long and short side is around the corner- The earnings season. More about it later.