Market Bottom?

Discussion in 'Stock Market' started by DanK, Jan 23, 2009.

  1. DanK
    Offline

    DanK Administrator Staff Member

    Joined:
    Nov 7, 2008
    Messages:
    202
    Thanks Received:
    64
    Trophy Points:
    78
    Location:
    Sunny New Mexico
    Ratings:
    +76
    If we close up today I'm thinking this is a really good sign and might be a bottom :)
     
  2. Andrew2382
    Offline

    Andrew2382 Gold Member

    Joined:
    Oct 1, 2008
    Messages:
    3,994
    Thanks Received:
    530
    Trophy Points:
    153
    Ratings:
    +537
    I think Louis Winthorpe III and Billy Ray Valentine are waiting to make their move in the pork belly industry.

    Esp Frozen concentrated orange juice
     
  3. DanK
    Offline

    DanK Administrator Staff Member

    Joined:
    Nov 7, 2008
    Messages:
    202
    Thanks Received:
    64
    Trophy Points:
    78
    Location:
    Sunny New Mexico
    Ratings:
    +76
    What a great movie.
     
  4. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,555
    Thanks Received:
    4,854
    Trophy Points:
    1,130
    Ratings:
    +15,403
    I can't see this being a bottom. There's still a lot of companies that have yet to feel the full earnings effects of their unhealthy balance sheets, coupled with this economy. Not until jobs start increasing, at LEAST.

    I'm still double short the DOW (DXD) in at 8600, and feeling quite comfortable.
     
  5. Andrew2382
    Offline

    Andrew2382 Gold Member

    Joined:
    Oct 1, 2008
    Messages:
    3,994
    Thanks Received:
    530
    Trophy Points:
    153
    Ratings:
    +537
    Looking Good Billy Ray!


    Feeling good Lewis!
     
  6. DavidS
    Offline

    DavidS Anti-Tea Party Member

    Joined:
    Sep 7, 2008
    Messages:
    9,811
    Thanks Received:
    766
    Trophy Points:
    48
    Location:
    New York, NY
    Ratings:
    +767
    We hit the bottom around 7900 or so. Hogan's bottom has held like Titanium.
     
  7. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    50,768
    Thanks Received:
    11,056
    Trophy Points:
    2,030
    Location:
    The Big Bend via Riderville
    Ratings:
    +25,103
    Hard to say, though we very well may have seen the lows. The market is working very hard moving sideways and consolidating. The longer the consolidation and the longer the base that is built, the greater the move upwards if this is a bottom.
     
  8. Annie
    Offline

    Annie Diamond Member

    Joined:
    Nov 22, 2003
    Messages:
    50,847
    Thanks Received:
    4,644
    Trophy Points:
    1,790
    Ratings:
    +4,770
    I hope so, next week I start my 8th graders on "The Stockmarket Game", I don't want them depressed.
     
  9. Gord
    Offline

    Gord Active Member

    Joined:
    Nov 9, 2008
    Messages:
    779
    Thanks Received:
    116
    Trophy Points:
    28
    Ratings:
    +116
    From a purely technical perspective the November low of the S&P500 has not been tested yet. I think determining a market low is premature until that happens. Also the monthly RSI trend is still down. Admittedly it is oversold but it may stay oversold for quite some time because of its steep drop in the last year.

    As a side note, even when a bottom is reached that is unlikely to precipitate a vigorous move up. The market will probably move choppily sideways for quite some time. The mortgage bubble has only 1/3 burst at this point.

    (Disclaimer: I am strictly a daytrader.)
     
  10. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    The second wave of the subprime is yet to come, the commercial side.
     

Share This Page