text: for the market watchers: is the us stock market in for a correction?  big or small? we're at new highs all over the place, and all the sentiment indicators show complacency.  plus, with high oil prices finally being passed onto consumers in almost every product, inflation could be knocking at the door...  waddaya tink? it's difficult to say.  my gut tells me that the market will set new highs in the short run.  late this summer could bring forth a correction, maybe 10-15%, followed by a rally into xmas after the elections and a strong 2007.    the us dollar will continue to weaken and precious metals prices will continue to rise in this speculative environment.  i personally don't believe there is any basis for the gold, silver prices, so at some point, can't say when, they will retreat hard.  this assumes no terrorist attacks on us soil, no military intervention in iran, no civil war in iraq.