That we have a way to go before this market bottoms. The following moving average chart can be obtained from stockcharts.com. There are several other charts showing how many stocks the nasdaq, amex, spx, etc. are moving above the 50 and 200 day moving average. The moral of the story is that 36% of the NYSE stocks are moving above their 50 day moving average and there wont be a real bottom until it gets below 25-20% area. Then there will be a bounce of some kind whether it be real or of the dead cat variety. The time frame for it to get there depends on Mr. Market. I dont see any reason right now to go out buying stocks, but every reason in the world to short them.