There's a bear market in there somewhere, I just know it... <a href="http://www.findata.co.nz/Markets/StockQuote/INDEX/SP500.htm"> <img src="http://chart2.findata.co.nz/?e=INDEX&s=SP500&p=D&n=5475&w=800&h=600&vol=0&lg=0&v=0" style="border:0px solid black; width:800px; height:600px" /> </a>
I dunno. Maybe its just me, but reading this definition literally, makes no sense to me. Now, if it were below 50% of the Difference between its lowest point and highest point, that I could understand.
Citigroup isnt at all time new lows but it is down 95% from oct2007.Ditto for GM...But that isnt isnt a full blown bear market???...what a Fool.What are you doing papertrading if you are 'loose ' with definitions and reality?At least youre not obnoxious like rft or stockturd3 but man,but your definition of bear market is total nonsense and WRONG.
This is certainly worse than I've ever seen, but the media has done an excellent job of convincing the sheeople just HOW BAD it is. If you didn't think it was bad, just turn on the evening news to see how the market PLUNGED 250 points today. Remember January 2000 when Robertson Stephens had the ad on "It's different this time" and the Munder NetNet fund was up 100% in 6 months? Remember what chat rooms like this one used to discuss? Worthless $200 stocks up and down 50 points a day you could daytrade to riches. Just reverse the chart and the headlines and look at what is going on now. I went to a newsstand this morning and every single publication from the NYTimes and Journal on down to my local free newspaper is talking down stocks. Positive news gets no press, but that's nothing new. In the spirit of honest commentary, being a contrarian up until this point has cost me some money. Not a lot, but enough. I will say that today I got that pukey feeling for the first time (very technical indicator, if you will) that we might spike lower. I also got that feeling in 87, 97 & 01. I think a good old fashioned 1000 point down day from here will give us a good spot to start all over again.
The VIX is barely over 50. People are not concerned yet. Wait until it gets over 80, then we'll see a (local) bottom. But I sort of agree - the market likely won't go down more than 200 or 300 more points... this week.
if/when the market drops below 7000 that's when i turn aggressively bearish. But today at dow 7200-ish I put my money to the long side because that's about where i would expect the bulls to show up and put up their most determined fight to not lose control (that's if they have the will and strength) and to defend themselves while still on the EDGE of "terrain" that is suited to give healthy bull forces a big advantage in the war against the bears....all before its too late and the fight shifts to new terrain that radically switches the advantage massively towards the bear side.
Or just when you think it is going to rally Obama or one of his mnions will come out and say something really stupid like: "after that big 'stimulus' package the budget is getting too big so we will have to tax "the rich"" - and the market will shed another 200 points.
Sadly, you're right. In one month, Obama and his idiotic choices for almost every position have shown they are overmatched and inexperienced. I guess that's what happens when you vote for a community organizer to lead the free world just because of his skin color.