Basically, yes. But he makes an interesting point that backs up what I've been saying about the magnitude of the decline being weaker. The problem we have is that too much money has been printed by the Fed. That's what caused the real estate bubble and now that's what's supporting the stock market.
That excess liquidity (too much money out dare') will be finding a new home from real estate to stocks. And many fund managers are not going to miss this 2007 cycle rally. The decline will happen, but most likely not to the extent that everyone thinks. The correction most likely already happened from May to July. Big corrections usually catch people off guard.
I heard Jon Bollinger (of "bollinger bands" fame) on CNBC the other day say that he expects a general market rally of upwards of 20% from Nov to Jan. If that happens, the Nasdaq will easily lead (with the $SOX leading it) with a more pronounced rally than that.
That's why MRVL should do very well.
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