Methinks we might be closing in on a turnaround. Selling
exhaustion has to come at some point and when it does there will
only be buyers left (few as they might be). Add that to the
many shorts (myself included) who will cover when a strong
rally begins and you have the recipe for a great bear market
rally. Any day now....
Getting close to time to go long....
Posted by tomW1 on 24th of Nov 2011 at 07:51 pm
Methinks we might be closing in on a turnaround. Selling exhaustion has to come at some point and when it does there will only be buyers left (few as they might be). Add that to the many shorts (myself included) who will cover when a strong rally begins and you have the recipe for a great bear market rally. Any day now....
I can't completely disagree tomw1
Posted by marketguy on 25th of Nov 2011 at 06:03 am
I can't completely disagree tomw1 but if we really are running along side the '08 scenario we may not (or it will only last for hrs not days)......
I'm thinking maybe a week
Posted by tomW1 on 25th of Nov 2011 at 09:27 am
I'm thinking maybe a week or two at most. But that depends on how many trapped longs bail as the market rises. Might not be much at all.
No panic yet...the selling feels too orderly for a bottom...
Posted by lessarda on 24th of Nov 2011 at 10:21 pm
think back to Oct 4th -- that felt like a bottom