Market Bottom?

[usmbtech]

If we close up today I'm thinking this is a really good sign and might be a bottom

 

[Andrew2382]

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

 

[usmbtech]

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

What a great movie.

 

[Paulie]

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.

 

[Andrew2382]

Looking Good Billy Ray!


Feeling good Lewis!

 

[DavidS]

We hit the bottom around 7900 or so. Hogan's bottom has held like Titanium.

 

[Toro]

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.

 

[Annie]

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.

I hope so, next week I start my 8th graders on "The Stockmarket Game", I don't want them depressed.

 

[Gord]

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.)

 

[Truthmatters]

The second wave of the subprime is yet to come, the commercial side.

 

[Gord]

The second wave of the subprime is yet to come, the commercial side.

Commercial subprime?

 

[usmbtech]

Not to mention credit card defaults. I think we have a ways to go still yet on the bottom, however, I think now is a good time to get in on companies that are sound and will be able to turn a profit (albeit, less then the past) as they will survive the companies that die and be more prosperous on the backend.

 

[Paulie]

Not to mention credit card defaults. I think we have a ways to go still yet on the bottom, however, I think now is a good time to get in on companies that are sound and will be able to turn a profit (albeit, less then the past) as they will survive the companies that die and be more prosperous on the backend.

A sensible post.

 

[DavidS]

The second wave of the subprime is yet to come, the commercial side.

I've heard about this for a long time. I keep waiting to see it...it's kind of a phantom.

 

[DavidS]

Not to mention credit card defaults. I think we have a ways to go still yet on the bottom, however, I think now is a good time to get in on companies that are sound and will be able to turn a profit (albeit, less then the past) as they will survive the companies that die and be more prosperous on the backend.

I think we already bailed out AMEX.

 

[manu1959]

companies are hanging on by the skin of their teeth......this summer will be brutal....

 

[Paulie]

The second wave of the subprime is yet to come, the commercial side.

I've heard about this for a long time. I keep waiting to see it...it's kind of a phantom.

Not until the media is ready to talk about it.

 

[Paulie]

A Manu sighting?

 

[Neubarth]

If we close up today I'm thinking this is a really good sign and might be a bottom

The actual market bottom for this Depression is quite a long ways away. Look for another 40% fall in the stock market over the next year or more. Things are continuing to get worse and worse, not better and better.

It is great to be an optimist, but right now there is no news to be optimistic about.

 

[Neubarth]

companies are hanging on by the skin of their teeth......this summer will be brutal....

The next step in the process is a Service Sector Collapse. Watch for plywood in the windows of the burger franchises and pizza parlors. Abotu that time they will start calling this situation a Depression. Obama is doing nothing substantive to forestall the Service Sector collapse. Damn short sighted.