Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Softechie who wrote (87060)	6/27/2002 9:13:13 AM
From: Bridge Player	Read Replies (2) of 99280

Softechie, no one knows whether yesterday was the bottom or not. And no one will know until well after the fact, after you can see the charts and see what the market has done. Any scenario is possible. One thing I am pretty sure of, that most bears will continue to be skeptical and pooh-pooh the rallies for quite a while after the actual bottom comes. IMO your absolute confidence that there is lots more downside to come is a quite bullish indicator. Your enumeration in another post this AM sure sounds to me like a lot of blood running in the streets. Some 80% down on the NAZ is quite a bear market and it has been going on for about 2 1/2 years. There are more than a few stocks around trading at 4-5 times next year earnings or at net cash value less all debt, and not all companies are run by crooks with crooked accounting. It's getting pretty bleak out there and again, IMO, most of the elements necessary for a bottom are in place.

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