Too many looking for the bottom

D

detective

Bottoms are not handed on a silver platter. This is a bear market, short term bottoms are elusive indeed, and rallies are quick and spiky. Right now, there is no way we rally sustainably with everyone looking for that bounce to sell into.

We may have to crack 1250 before we get hope washed away and put in a short term bottom. More headfakes to continue. Buyer beware in this bear of a bear's market.

Oil is higher again, I underestimated that monster...
 
IMHO, market is set to rebound a little bit before 4 july and after that continue this free fall. Many took vacations and come back on 7 july 2008. I expect level of fear (VIX) go to 35-40 during summer before we touch real year bottom.

As i observe for some time, actually everything is going on accordingly to this model. Take a look: http://www.cxoadvisory.com/status/
 
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