Tom Gresham

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Stocks suffered their biggest one-day loss in nearly six months Friday, as anti-government rioting in Egypt prompted investors to flee to less risky assets to ride out the turmoil. Some believe the unrest in the Middle East could provide a trigger for investors to sell when many were already expecting a noticible market correction. Tyler Simones with Northwest Quadrant Wealth Management in Bend says they are expecting a correction of 3% to 5%. " We are sort of thinking that markets are due for a little bit of correction because they've gone up so much since August when Bernanke gave his speech in Jackson Hole, Wyoming.  He hinted at monetary easing and then we got quantitive easing too and all risky assets have risen substantially; oil’s up gold’s up cotton’s up stocks are up and when they go up as quickly as they have, we're sorta due for a pullback.”  An investment advisor with 5th 3rd Asset Management in Ohio says the turmoil in the Middle East could ignite a selloff of 5% to 10%.

 

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