(Forbes) — Corrections can’t be sized up before they are over. Lots of traders claim to be able to do this, but in my experience no one does it consistently. What is consistent is that in the middle and final stages of a market correction participants become very scared. When a bottom is made, you can finally assess the damage. Before we get to the point of capitulation, the horror associated with a deteriorating market is slowly exposed. This time around investors have been peeling back the onion on a story that starts with Greece being bankrupt but evolves into us wondering whether the world can live within its means.
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