It hasn’t taken too long for the doom-mongers to step into the spotlight or should that be crawl out of the woodwork. The Cassandras with their prophecy of impending disaster for the stock market are back at it again. Some expect at least a 10% correction in the US market, which they reckon will begin no later than by mid-August. Others are less specific about the magnitude or even the timing of a correction. But they seem content to say that it could be ugly. I have no idea what ugly actually means. But if it is a 10% drop from its recent high, then it is known as a correction. Corrections are normal. It simply means that excitable investors collectively think that the market might have become a bit too optimistic, and that share prices might be frothier a than a Starbuck’s cappuccino. Consequently, they have decided to blow off some of the foam by selling some of their shares....