RE: BuckyI have two reasons for my statement and while my timing might be off by a few days or a week - the net effect is still the same, a sharp correction.
1) The Baltic Dry Index, which measures the shipping of materials globally has bounced off its low of 1907 that it set on July 15th. It has rebounded by 1/3 and in my opinion is overdue for another hard correction. Fundamentals of the US economy haven't changed in 24 months and those who think otherwise are kidding themselves. The fact that we recently had the Hindenburg Omen appear doesn't bode well either as no market correction has ever occured without it first appearing;
2) Oil, which is linked to the US economy as the Yanks consume the most, is due for a hard correction below $70 as the Fed is out of bullets and can only print money at this point. Anyone watching the headlines can see the writing on the wall.
I sold a portion of SU on a modest return, traded WTN for another small gain within 2 weeks and now have cash on the sidelines as I expect SU to pull back 10% and CVE at least 5%, both of which I'm looking to pick up below their current SP. Both companies are strong, but subject to the whim of both oil and investors - both of whom I think are starting to lose traction.