The Summer Correction… ?

• IBD changed their market position after Monday’s close to “Market in correction.”  After today’s positive move, IBD notes in Wednesday’s edition that the volume wasn’t great and retains the same view as yesterday.
• Just want to note that.  At times, I follow a seasonal investing strategy that has me out of the market in the Summer months. Fortunately, I have remained long this summer.  But the market has come up quite a ways and a correction makes too much sense.  I don’t believe the bull market is over, however. 
• Brett Favre signs with the Minnesota Vikings.  He just can’t hang ‘em up.
• HP revenue drops.  But keep in mind, that Windows 7 comes out in October.  My thoughts are that will lead to a very nice upgrade cycle for PC makers.
• Sony cutting PS3 prices by $100.  Not a bad deal for a gaming machine, blu-ray player, and a streaming media box for the TV.  I have one!
• Inflation a no-show in July, and companies don’t have pricing power.
• Speaking of, everyone keeps looking for a bottom in the real estate market.  Historically, home prices go up with inflation and wage growth.  We’re not seeing either of those last two.  No housing bottom until that changes.