RE:can someone plz explain to me whats going on...The market is correcting off it's highs back when the law was passed..... it is moving into a summer dolldrum, and trying to find a bottom after all the speculation that has happened....up until that law was passed......
We are transitioning to a marketplace that is more interested in earnings..... it's time for "show me the money", which was a quote from a guy on BNN and I think it is true.
All the majors and minors, will need to start showing earnings before things really get going again...
And then MJ just becomes a commodity in the marketplace like coffee.....
My guess is that for all the majors we will see a continued deline thru the summer and maybe after Labour Day, things will spike up till October 17.
For now, I would be sitting on the side lines and waiting for a reentry.... For those who still hold, just keep holding.... enjoy the summer, and this fall will be great....