Is this bottom ?

When does market bottom out ?

  • Today is the bottom

    Votes: 6 16.7%

  • Bottom out after two more days' dropping

    Votes: 9 25.0%

  • Bottom out at end of Sept before Oct earning season

    Votes: 4 11.1%

  • No bottom this year

    Votes: 17 47.2%
  • Total voters
    36
Only complete fool would open a new sell trade here!! LOL


This may not be the bottom but over the next 2-3days there is potential for maybe just 4-5% more down maximum,
wheras potential for 9-10% bounce.
 
Quote from spanish89:

Only complete fool would open a new sell trade here!! LOL
More...

Always strange that folks never learn. They want to short near lows and buy near highs. Then wonder why they can't make a profit.
:eek:
 
This is NOT 2008.
If I remember correctly, the bad news during 2008 crisis pops up almost every day while today the bad news are really limited, downgrade, possibility of double dip in US and troubles in Europe, what else ? People will get tired of those stuffs after a while,
how much fear you can sell ?
 
Quote from ramaTrade:

This is NOT 2008.
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Economically, we are in a worse place now than we were in 2008.

How important that is to equity markets is, of course, an open question. Maybe we rally here, and just as equally maybe, we're on the express elevator to Dow 5000.

No way to know.
 
CNBC made a good point: the bottom has got to come sometime... it can't be falling perpetually... so I have a feeling we are very near this turn-around point :)
 
Quote from Random.Capital:

Economically, we are in a worse place now than we were in 2008.

How important that is to equity markets is, of course, an open question. Maybe we rally here, and just as equally maybe, we're on the express elevator to Dow 5000.

No way to know.
More...

I have to agree. The S&P downgrade is only a small part of this market. This fall was precipitated by the expectation in a global slowdown in growth. There is a strong possibility (better than 50/50) we are heading into a recession. A recession means most likely a bear market and this is not the bottom.

The difference between now and 2008 is there will not be a $900billion stimulus package because there is no political will for it. I have no doubt QE3 is coming and I will be listening too the Fed tomorrow but the best that will do is to stem the blood letting it will not cure the disease.
 
Hate to break it to you guys but in 2008 companies were strapped for cash and couldn't raise any capital.

Now companies are sitting on an all time high of cash with record breaking earnings. If I remember correctly the valuations of companies are based off their earnings.

Something tells me this is NOTHING like 2008.
 
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