How can one still say it was not a bottom at this point? The SPX is up 21% from the lows, which occured almost 2 months ago. It definitely WAS a bottom, and at least an Intermediate Term one.
The longer that 9/24 bottom holds, the more likely it becomes that it was a cyclical bottom also. As for the Analysts on Bubblevision- They called bottoms daily for the past 2 years, and they would/will continue to do so until the real bottom is in. That's what they do for a living- entice people to buy stocks. It is inevitable that they are going to get it right eventually, unless the market goes to zero and they all go out of business. Which some bears would have you believe is possible- but we know it's not too likely. -g-
You should just turn that stock-TV crap off so it doesn't cloud your thinking. <ng>
Of course the public is skeptical. Remember how it goes-
Bull Phase 1- Public fearful, smart money confident.
Bull Ph. 2 - Public fearful, smart money confident
Bull Ph. 3 - Public confident, smart money fearful
Bear Ph. 1 - Public confident, smart money fearful
Bear Ph. 2 - Public confident, smart money fearful
Bear Ph. 3 - Public fearful, smart money confident.
Lather, rinse, repeat. <g>
I wouldn't buy here though- Don's Class 1 sells are about to ring- and we know better than to bet against them..
Regards,
TW |
