On the downside, a major correction in the S.& P. 500 could only occur as a result of a major accident.

In fact, these experts would argue that stock prices cannot go much higher until such a correction occurs.

Such a correction might occur, but there was little evidence of it yesterday.

Their portfolio should be particularly heavy on biotechnology "now that the correction has occurred."

The problem for investors is figuring out how much higher some markets, like those in Mexico and Brazil, can go before a large correction occurs.

"And any correction will occur on maturities of less than five years."

Severe corrections did occur along the way though.

The correction has not occurred in the West yet.

The corrections occurred after an average of 16 years on the market for the older drugs, but after only 3 for newer ones.

Still, he said that further increases in Japanese rates are possible before a substantial downward correction occurs.