What are you calling a quality stock?
A stock had better be supoprted by the earnings potential of the companythat iues that stock and live up to the expectation.
House of cards optimism that something just might, maybe, possibly, sometime in the future really start to have earnings and growth and be profitable and maybe not is why this market has no support.
Too many overpriced stocks without the earnings to support those overpriced stock prices.. THOSE companies withthe earnings to support the stocks would, IMO, be a quality stock. Like PG for example....
And yes, it could go sub 10,000. Hyper exuberance with no rational reasons to keep driving stock prces ever higher on companies that lose money year after year is what got us to this point..
There was NO foundation... That is why I have repeatedly said that earnings mean something for years...
Thee xpectatations of something are far different from what eventually happens with few exceptions. So now we are paying the piper...
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