Let's wait for that special period just right after Christmas when the bad news about layoffs will start to come to air. if a lot of companies start to unload employees, prepare for the next leg down. .....
You might be right? It seems that the market has decided 7500 is the floor. After tomorrows number, It should be around that level. In my neck of the woods NBay CA. it sucks for work right now. I'm in the construction sector in one of the highest price neighborhoods in the country. Even the well off folks are having a difficult time.
Well, for those above who were thinking bottom, things looking up, etc. , I hope 533,000 lost jobs tells you things are not under control, and seeing people in the mall or trucks on the road is irrelevant. There is still a good chance we will see:
So it is then ignorant thinking things CANNOT go this way. Remember the Asian currency crisis a few years ago, with stock markets like Indonesia down 80% and currency down 90%? Remember Zimbabwe? Collapse of markets, banks, housing prices and commodity prices is exactly what happened 1929 on... Nobody knows how far this will go. The job losses are getting worse, not better. Consider if other countries stop buying American debt, which is bleeding profusely.
I love the pessimism, almost everyone is drowning themselves in negativity. Wake up, look around, and take advantage of the amazing opportunities right in front of you. I have personally been making bundles of cash in the last month. To me, that signifies things are getting much better.