U.S. stocks had their biggest rally in a year on Oct. 21. The S&P 500 has now recovered in a blink: a 5 percent rise since Oct. 15, reversing a 7.5 percent drop.
Bummer. Long-term investors barely had a chance to jump on one of the market’s best buying opportunities in years. They've been waiting for discounted stocks for a long time. The S&P 500 hasn’t had a bargain bin since a couple brief drops in 2012. Neither met the definition of a correction, a drop of 10 percent or more. The last extended double-digit declines were in 2011.