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Over the past several weeks we have been calling for a shallow correction for stocks and that is exactly what we are getting. Many believe, us included, that this type of action is healthy as the stock market has come very far very fast. We also believe that ultimately, perhaps after two or three more months of this breather, the market will ultimately move up as stimulus money appropriated by congress actually makes its way into the economy. With this in mind, we would use this sideways action to review your current investment objectives, your tolerance to risk and what funds you will be using to help you reach your objectives.
Congratulations to Chris for his induction into the Capital District Basketball Hall of Fame. We attended the ceremony last night at The Franklin Terrace in Troy, NY, one that was attended by 370 people, and found it very enjoyable. Congratulations also go out to Chris’s daughter, Kate, who was also inducted.