Correction

Saw this on your other board.. I still think we are in for a pretty good correction this year but one might argue that these stocks have already done so when you look at the 52 week range. 15- 20% + declines for most of them..

Exxon Mobil Corporation (XOM) -NYSE 84.02
52wk Range: 82.68 - 104.76

Wal-Mart Stores Inc. (WMT) -NYSE 72.43
52wk Range: 72.34 - 90.97

The Procter & Gamble Company (PG) -NYSE 78.87
52wk Range: 77.10 - 93.89

Philip Morris International, Inc. (PM) -NYSE 81.86
52wk Range: 75.27 - 91.63

The Coca-Cola Company (KO) -NYSE 39.96
52wk Range: 39.06 - 45.00

Chevron Corporation (CVX) -NYSE 99.87
52wk Range: 98.88 - 135.10

Yeah, I was thinking about Morgan Housel's article about
when he'll put in his cash - 10% after a 10% correction.
That's about 1920 for the S&P.  We usually have about one
of those a year.

But I usually find good companies with a bigger discount
about all the time.  Already have more of these companies
than we need.  I need to expand the ones I watch to some
I don't have.

Thinking about index funds, the problem is too many people
have them now and it effects the prices by not raising the
price of the ones that should be higher and buying the ones
that aren't worth the price just because they're in the index.
That's besides the normal fault of mutual funds or index
funds such as your fellow investors.  If they bail at the bottom
the fund has to sell low just to redeem the shares and when
everyone's buying and run the price up high everyone wants
in at the same time and they have to buy too high.  

With prices of some good companies doing so badly I really
see no reason for a correction but that doesn't mean we
won't have one.  Fine, I have some dry powder left.