A Market Upturn Could Be Around the Corner

NEW YORK (Real Money) -- The rolling correction continues. We have seen some really powerful downward moves in some of the major industrials of late. They remind me of something that Byron Wien -- senior adviser at Blackstone, and by far my favorite market commentator -- said at the beginning of the year. He remarked that the S&P 500 would initially drop 10% in a worst-of-times situation, and then in a best-of-times situation it could rally 20%, heading perhaps to 2300 at the end of the year.