Thoughts {03.06.15}

A back of the envelope calculation/thought.  

By our work you have to go back to the summer/fall of 2011 to find a market that experienced a correction of greater than 15%.  That decline by our work in the S&P 500 was just a bit over 20% from high to low.  The S&P 500 is up over 90% in terms of price since that time.  

You have to go back to the spring/summer of 2012 to find a market that experienced a correction of 10% or more by our work.  The S&P 500 is up around 65% in terms of price since that time.

A decline of 10% in the S&P 500 would take the index back down to about 1,900.

A decline of 15% would take it back to around 1,780-1,790.

A decline of 20% would take it back to around 1,680-1,700.

*Long ETFs related to the S&P 500 in both client and personal accounts.  Please note these positions can change at any time without notice to readers of this blog.