For the last few days, the Talking Heads have been virtually unanimous.... "bottom is in, worst is behind us, bad employment number is factored in"... The Employment number with revisions is about 200,000 WORSE than expected, yet they are not tanking this market... trying to "rally in spite of the numbers"... So, is the "wink" on? PPT give 'em the word? I guess we'll see. FWIW... My longer view is the real market bottom is at least a year away and perhaps > 50% further to decline..
Listen up bitch, where were you at dow high screaming fire. a >50% DECLINE will kill the average american who has already lost more than you make in 10 yrs at Burger King.
50% decline from here? No way. I suppose I could be wrong, but I think that's absurd - as it won't just spark an economic cataclysm, but a social, governmental and idealogical one as well. Wars, famine, etc... Dogs and cats, living together....mass hysteria. (Dr. Venkman) Gnome, you've got a lot of good posts, mate. But lately I think you've taken a dive off the deep end.
Such pain has not stopped declines in the past. BTW... I didn't lose 50% of MY capital in the decline..
I've been talking "financial firestorm on the horizon" since about 2001. Everybody (including my wife) has dismissed me as a crackpot whacko.
I'm not PREDICTING a further 50% decline, but I can rationalize it and wouldn't be the least bit surprised.
On the other hand, nearly every thread on the front page of ET is negative. That's usually a pretty good contrarian indicator.
If what we're in is a 4-6 year decline (which will later be labeled with the "D" word), then I guess I AM predicting a further decline of 50%. Bummer, eh?
At the moment the market is pausing but the bottom is not in yet. It is even more than a year away, reckon on at least three to five years before it reverses. The fundamental changes are not in place yet. This is clearly visible. Maria