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\\nIt Is Not a New Bull Market
\\nThe U.S. stock market averages continued the bear market correction - the correction actually extended for another week.\\xa0 We capped a strong week with a strong gain today across the board.\\xa0 But this is a correction. It is not a new bull market. But of course, if you watch stations like CNBC you wouldn\'t know that. All day today all they kept talking about on CNBC was that the market is now out of correction territory, meaning that it is no longer down 10% from the highs, and so we\'re no longer in a correction.
\\nWe Entered a Bear Market
\\nFirst of all, we didn\'t enter a correction - we entered a bear market. Now, bear markets have corrections, too. They\'re called rallies, except people at CNBC don\'t get that. They think the only correction is a move down in a bull market. Now this bull market went on for 10 years, so a lot of these guys don\'t remember the last bear market, and it wasn\'t even that long.\\xa0 A lot of these bear markets have been very short. They decline 40-50% and then the Fed was able to come in and save the day.\\xa0 But people don\'t get that we are in a bear market now.\\xa0 We haven\'t made new highs, so any rally is a correction.\\xa0 Certainly a rally of more than 10%\\xa0 - that\'s the same definition for the downward correction in a bull market.\\xa0 So if you want to apply that definition to an upward correction in a bear market - we are in a correction. This is a pretty big correction, helping the bear market fall a slope of hope.
\\nRussell 2000 Had\\xa0 Best Annual Start Since 1987
\\nThe Dow was up around 330 points today, back up to 24,706.35.\\xa0 In fact, if you look at the Dow Jones year to date, we\'re up almost 6% so far this year. Strong move.\\xa0 We\'re not even finished with the month of January.\\xa0 Of course we have a holiday weekend,\\xa0 s the markets will not be open on Monday celebrating\\xa0Martin Luther King Day. But there are still quite a few days left in January.\\xa0 The NASDAQ composite is actually outdoing the Dow, it is now up almost 8% on the year and the biggest gainer is the Russell 2000.\\xa0 It\'s up almost 10%.\\xa0 In fact the Russell 2000 is having its best annual start since 1987.\\xa0 Now, of course, 1987 didn\'t end well for the Russell 2000 or any of the stock markets. That was the year of the stock market crash in October.
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