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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 47.27

+12.5%

Jan 2 4:00 PM EST

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To: rogermci® who wrote (38630)	2/23/2009 5:27:46 PM
From: mattstats	4 Recommendations Read Replies (1) of 207581

So you want to be a contrarian? I've seen them all the way down. The fact is this time it could be different. We could be seeing a 1929 scenario playing out. Whose to say the market can't go down more? Sure there's fear. But there can more fear. And fear isn't as extreme as it was at the Nov bottom. I wanted to be a bull here, but I call them like I see them. This market is severely damaged, and today sure as hell didn't feel like a bottom. I'm capitulating mentally, but I'm still long many stocks. I just have resolved myself to the fact that this market wont be running the bulls anytime soon. We will see a lot of failed rallies, and severe declines. If we see Dow 10K in 5 years, I'll be happy with that.

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