Did You Just Miss the Bottom? Posted Mar 13, 2009 10:56am EDT by Henry Blodget in Investing, Recession, Banking From The Business Insider, March 13, 2009: Did the Wall Street Journal scare you out of the market with that DOW 5000 cover? Sucker! After an 11% three-day pop, the DOW's over 7000 again. The higher it goes, the more people will turn bullish. In fact, we expect to hear the mantra on CNBC to become "we're in a bottoming process" any day now. (In December, when the market soared off the November lows, pundit after pundit said we were in a "bottoming process." In the past two months, they came to the same conclusion the WSJ did: DOW 5000. Now, if the market keeps rising, they'll get more bullish again.) So which is it? Are you convinced this is just yet another sucker's rally and holding out for DOW 5000? Or did we just see the start of a great new bull market, that many folks have just missed the first 11% of? http://finance.yahoo.com/tech-ticke...S00tT90LpJWlwA4QRO7sMF?tickers=^dji,^gspc,spy
Bear market rally, there are still MANY unknowns. Also, the government nationalized Discover Financial after market close today. Bet that news isn't spread over the weekend. I don't care what any of the media idiots say, if the feds own shares in a company it is nationalized.
Need a rally before you get a crash, PERIOD! And good luck to those in IL. I see the Idiot Quinn is about to up State Tax 50%.