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Hmm, it looks like a top to me, not a bottom. We are already 20 ES points off the top.

Thanks, Erik. I find your daily commentary quite useful.

The relative size of the circles does not reflect the numbers inside the circles, which makes this diagram blow things way out of proportion.

As of Jan 20, 2009, the index is down 70% (I assumed equal amounts of money in each stock). Best pick is AAPL, down 57% Worst pick is PCX, down 96%

Where does that P/E at 40 come from? According to my calculations, the forward P/E is 15: S&P: 800, 2009 Earnings (from your source): $53. 800 / 53 = 15 The backward P/E is about the same, with the 2008 earnings at $55 (again, your source).

There is no such thing as "resistance" and "support" in the market depth. There are just bids and offers at multiple levels. The rest is just a trader's interpretation. What looks like resistance to one trader is support to another trader.

I am moving this to a forum with a certain content, known as chit chat.

I think you need a new keyboard.

No one is asking you, S2000. Stay out of this.

Are you selling?

Yes, that's basically how that works. Here are a few corrections: -- when you buy/sell a stock, you don't know who is on the other side of the transaction. The fees that you pay include the commission to the broker and various exchange fees. Typically, your broker will bundle all the fees...

That's what they like to say when the market doesn't move along the straight line. Which happens 95% of the time.

Believe it or not, nobody knows. Instead of asking, "where will it go?", ask "what will I do if it gets there?". You'll be a better investor/trader, once you are able to change the question and orient your mind on that question.

It is, indeed.

Give up your hopes, that will open a path to enlightenment.

I think we'll end purple, with the yellow diagonal stripes. Meaning near the lows of the day or below.

I don't understand the poll question. I use the 85-second and the 2600-second averages, and this produces 2 to 5 trades per day. So, what "time frame" do I use?

This article is from September 12, 2008, entitled "Stocks poised to rise". That happened to be one of the best times to sell, as since the publication, stocks dropped by some 40%. So, I don't understand why you would ever reference this article to make your case. I mean, doesn't it tell you...

... soon to become a mental depression. :D

For some obscure reasons, the market continues to fluctuate.