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To: Return to Sender who wrote (56672)	6/24/2012 1:20:42 PM
From: Kirk ©	Read Replies (1) \| Respond to of 95378

Something to ponder... In every instance of an actual major market bottom sentiment has reached extreme bearishness and market breadth has begun to improve even as the market makes new lows. How many bear markets over 50% have we had? Tides vanish if all the water flies off into space.... likewise, if almost every individual investor who can be spooked out of stocks into bonds is already out... how low can the tide drop?

To: Return to Sender who wrote (56672)	6/25/2012 11:11:25 AM
From: robert b furman	Read Replies (1) \| Respond to of 95378

Hi RtS, I think that is right. 09 was a generational bottom that cleaned up and took out the excesses of even 2000. Fib retraces to the 09 bottom will be viewed by us for a very long time. 09 may well be looked back on much like 87 was. Just think ,we are almost a double from 09's 666. Bob

To: Return to Sender who wrote (56672)	7/12/2012 6:10:38 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 95378

<Since that time (market bottom in early 2009) for the S&P 500 there has been nothing but higher highs and higher lows with not one 20% correction:> Using intraday highs and lows, the market had a 20% correction in mid-2011 (1371 to 1075). I agree, if we are currently forming a bottom, it isn't a major market bottom. Although I am modestly bullish for the medium-term, I always remember we are in a secular bear.