The Correction Continues?

by JDH on March 4, 2023

Last week I said The Correction Continues.  This week, not so much.  After a mid-week decline, the S&P 500 ended the week up.

Up is not a correction.

There was a correction in Bitcoin, down 5% over the last five days.

Will the market follow Bitcoin, or will it be the other way around?

I don’t know.  For now, I have two priorities:

The first is cash.  We may not have a correction, but it’s also unlikely we will have a big spike higher, so cash is likely to perform as well as stocks, or Bitcoin, or anything else, so I see no problem holding cash.

My second priority is shovelling snow.  Most of Ontario, and the entire north east, got dumped on Friday night and Saturday morning, so I’m putting on my gloves and going out to shovel.

Hopefully I’m finished in time to report back next week.