Oct. 9 (Bloomberg) `Completely Overshot' ``There are problems out there, I know that, but stocks have completely overshot on the downside,'' Kevin Rendino, who manages $10 billion at BlackRock Inc., told Bloomberg Television in an interview taped before stocks began their retreat. ``There are a number of companies that offer unbelievable risk-reward potential.'' ``This is what happens when the contagion of fear spreads,'' said Quincy Krosby, who helps manage about $380 billion as chief investment strategist at the Hartford in Hartford, Connecticut. ``No one is paying attention to fundamentals. People are very, very scared. Ultimately investors decide to sell.'' http://www.bloomberg.com/apps/news?pid=20601087&sid=aDRetp2GpqeI&refer=home
NYSE's Niederauer Starting to `See Some Capitulation' http://www.bloomberg.com/avp/avp.ht...//media2.bloomberg.com/cache/vXZ9RSNyEgY0.asf
NYSE's Niederauer Starting to `See Some Capitulation' LOL no kidding! I don't think many people realize that we are 40% off the highs of last year. I notice Paulson is going to speak on Friday after the market closes, will he trap a lot of shorts with what he has to say or will he do his usual tank the market routine?
Good let him buy. I will patiently watch and wait keeping my powder dry. Bottoms aren't formed in a day. We will retest any bottom and there will be plenty of time and chances to get in. This recession is just getting started.....market will not bottom until there is light at th end of the tunnel. And right now there is no light. We go lower.
Which is why I will be flat into the weekend. You're crazy not to be. This thing could go 100 handles in either direction.