everyone i talk to keeps saying today was a bottom and to get ready and load up! if it were that easy.lol usually in bear markets stocks go down to unfathomable levels that most never dream of. who says microsoft can't go to 12 or AAPL to 65? or Goldman to 75? then they could trade in a narrow range with some bull shit short covering rallies that amount to nothing. this could go on for a few years.
Right now the es is up 17. I wouldn't dig in and go long right now as the stocks can fall a lot more from todays levels. Great thing about trading is get flat at the close and ride the trend.
It's unknowable. I'm on a late 60's-70's fractal that has a lot of back and forth. On the other hand it's obviously difficult to know where the low will be. I didn't make a single trade today-unheard of for my hyper self. The market is 100% news driven and if you're out of the loop-which we all are-the risk of being sandbagged is enormous. I was chomping at the bit to short this stuff at the late stages of the vote but if they'd had a block of switched votes or an announcement of an immediate re-vote this stuff woulda ripped 50 handles higher on air. No out. A reminder to you all that cable tv is on a 6 or 7 second delay. What we hear there isn't "fresh".
There will be a bear market rally a relief rally when the bill finally passes. markets have been artificially propped up and the rally will quickly fade and we will head lower when short selling ban expires on oct 2. Way too much fundamental problems with this economy and market that the bail out can't fix. The bear will be here for a while. Don't catch the falling knife.