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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (168755)	12/3/2008 3:59:43 PM
From: tejek	Read Replies (1) \| Respond to of 306849

You just can't keep a good market down. UPDATE 1-Legg Mason's Miller: "Bottom's been made" in stocks I've been wondering whose been holding up this market all day. Every time it slips down someone comes in and rescues it. If there were a steady stream of buyers, the sucker would stay up after the first or second dip but it kept dipping and someone kept buying. I think we've had at least 10 serious dips today.....now its going out at its high. Now I understand what happened yesterday. I track 60 stocks. The vast majority never made it back to the highs they put in early in the morning even as the market went much higher in afternoon. I couldn't figure it out until just now. I bet Bill Miller was buying the Dow in the afternoon yesterday to make sure the markets went out at their high like he's done today. I understand his motivation but why would you do it right before the employment report on Friday? It could well be the worst one of the year. This may well be a fatal move for a guy who has lost a ton of money this year and has had to deal with numerous redemptions. Of course, if he wins, he's a genius! When you're underperforming and losing more money than the market in a down market, then that's a much more problematic situation. We've performed far worse than I would've predicted we would," he said. For the year, Miller's flagship Value Trust LMVTX.O fund was down 59.7 percent as of Tuesday, compared to a 41 percent decline in the reinvested returns of the S&P 500 index, according to Lipper Inc., a unit of Thomson Reuters. He better hope he's made the right bet.