Is THIS finally the BOTTOM???

[bbraunstein]

I know we had a huge discussion with hundreds of pages thanks to Lundy, but I thought I would spark additional discussion since a lot has happened since then.

So, do you think we've seen the bottom?

I don't think so because the monthly chart for the SP 500 is so ugly. Looks like we broke down from a head and shoulders pattern and now are rallying back to test the breakdown point. I'll change my tune when the sp cash index clears 950.

Your thoughts?

(I know some of you don't care and have no bias, but I still think it is fun to play the game.)

 

[ANCHOR]

I was kind of expecting Lundy

 

[bbraunstein]

Well, for the record, I'm not Lundy.....although I am interested in hearing his opinion as well as everyone else.

 

[Rigel]

It's broken resistance but I can't help but think that this is a short-term rally and then dumpsterville for all the big gamblers (bottom calling investors).

 

[bbraunstein]

Why Rigel?

 

[Rigel]

Because in the markets the obvious has a habit of kicking you in the butt.

 

[bbraunstein]

ha ha ha ha ha.....i don't think there is a single trader here who can't relate to that.

 

[permabull]

I only play the market long as you guys would say.

I could have just lucked out when I bought two fridays ago, but I have a feeling it had more to do with my stars.

Is this the bottom? Is what the bottom? Markets are all up off their lows, so what bottom are you talking about? Do you mean the bottom last week?

This is just too good to be true.

Thats what it is.

 

[sunnyskies]

braunstein, when you start a thread like this, unfortunately you become a "Lundy"

 

[William]

Hmmm... is this the bottom?

You know, I fail to see why this matters. I can see this question having some substance in an investing board, but...

I don't know... maybe I'm wrong.