Pulled up bloomberg.com and the big D was staring right back at me. What can this mean? Is it a sure sign of a bottom or are we about to form a line for soup?
while you're waiting to decide, maybe ByLoSellHi's post will cheer you up - http://www.elitetrader.com/vb/showthread.php?s=&threadid=142152
Sign of a bottom. I still see people going to work, buying food, etc. Rates are low and there aren't really any outside influences (like dustbowl weather) throwing people out of work. We've talked ourselves into this and we've let our imaginations run wild. There is a point when you're alone and scared in your house after watching some stupid slasher movie when the phone rings, you jump, and you realize you were stupid for being such a Nervous Nelly. You're listening to the media instead of your common sense. I say be a contrarian and follow your greed, and not your fear if you hold long term. And play both sides of volatility if you're not. SM
Great. Now, if only we can stop government from implementing the Depression era economic central plans which deepened and lengthened the GD we won't actually have a long and deep depression (which is what the short and quick, non-government helped recessions were called before Hoover and FDR got their central planning claws into the depression in 1930).
yeah we're at a bottom. that's why housing prices continue to drop, unemployment continues to rise, earnings continue to fall off a cliff, why the fed is going to cut rates again. the bottom doesn't happen when numbers continue to accelerate the wrong way. it happens when things flatten, and nothing has flattened.
I'm a proponent of trading what you see. But, that said, why is it that people want to take bad news as "the bottom has been reached." Saying stuff like the news is always worst when we're at the bottom is like saying things go lower until they find a bottom. You're really saying nothing at all. It can always get worse. It can always get better.
market always looks very far ahead. The numbers may seem bad now, but the market knows that in awhile they will improve.
I wasnt really serious about the bottom or lower aspect. I have been loving the wide movements. I hope these moves stay around for a while. I was mostly amazed that someone actually printed the D word.