The Financial Markets

[Fairplay]

Originally Posted by Stewie

Tell me this. Are you dropping 10K today in this market? Are we at a bottom? I've heard 8500 before we hit bottom.

Exactly my thinking Stewie. Everyone seems to think we already hit the bottom and are going up from here on out a couple days ago.

I disagree, but thats just me.

[petegz28]

Originally Posted by Fairplay

Exactly my thinking Stewie. Everyone seems to think we already hit the bottom and are going up from here on out a couple days ago.

I disagree, but thats just me.

Why would you think we would keep going down?

Keep in mind that everyone who said the first dip down, way back last year, was screaming that it was a buying opportunity. Those very same people now are screaming things will still go lower and the end of the world is upon us.

The biggest problem is you don't "hit" a bottom. That is a daytrading mentality. Bottoms are "formed" over time.

My guess is we have probably seen the lows. We will back and fill, maybe retest the lows even, over the next month or two, then we will get a strong move which should start the first leg of the next bull market based on stronger than expected x-mas shopping due to oil and energy easing.

Couple that with the fact that the Fed and now the rest of the world have all but backstopped the market, it is clear that what has been driving us down will be resolved and removed from the equation.