My financial advisor advised me to move more of my investments into the bond market. He said that equities have been at all time highs, and the market is expected to correct itself sometimes between summer and this winter. However, I can't find any articles on this expected correction. Anyone know more about this? Also, what are some good online news organization where I can read articles about the stock market?
Your advisor is correct on these points:
-equities are indeed at all time highs (well, the Nasdaq's still not quite there, but that 2000-time-frame peak was an abberation)
-the market will almost certainly have a correction in the next six months
-the market is often flat or a little down in the summer
However, timing WHEN a correction will occur is difficult. If you are investing for the very long-term, then you may be just as well off ignoring the correction. That is, if it IS a correction and not a severe market breakdown (like '87 for example). But even given that, your advisor may still be steering you right if — depending on your age and expected retirement date — he feels that you're overinvested in stocks.
P.S. you may want to contemplate moving that portion of your money into money market funds or cash equivalents instead of bonds — the bond market may not be too good in the next 6 months either.
Online sites that I check regularly:
http://finance.yahoo.com
http://moneycentral.msn.com/investor/home.asp
http://www.thestreet.com/
http://www.barrons.com