I was just trying to figure out your false bottom comment. What is a false bottom . . . I thought you were taking about the market . . . Thanks for the suggestion on the book . . . somehow I get this feeling we have different taste in books.
A "false bottom" means that it looks like the bottom, it feels like the bottom, but it isn't. There will likely be another round of profit taking, another round of companies who tried to stay afloat but couldn't and, as a result, another decline in the stock market. The market right now is about the long-term. If your window is any shorter than a decade, you shouldn't be in the market at all.
That is why I asked about the market and if you thought we hit the bottom. .. without looking it up, I think the market dipped below 6500. (I think we hit a market bottom at that number) You said it was a false bottom so I assumed you think the market has not bottomed out and it will drop below the 6500 level again. But then you said you did know if the market would drop below that level . . . to which I start getting a headache because earlier you said you thought it was a false bottom . . . Oh well whatever . . . we will see if it is a false bottom, but I think we have seen the market bottom out . . . a real bottom.
I can't tell you if 6,500 is the absolute bottom for this market or not. From the data I've reviewed, the new technical bottom is around 7,300, but that could change. I'm trying to say that the market will likely not stay above 8,000; that's there's likely another dip or two coming along. I have no idea how deep they'll go.
Got it. No I'm not saying 8,000 is a bottom. I was saying 8,000 might be an indication that the market bottomed out at 6500.
Who cares about the economy? We're all dead in 2012 anyways. It's time to just let your hair down and go wild.
Probably just politics, but here is to hoping it's true: "We're starting to see glimmers of hope across the economy," the president said after a White House meeting with his economic team, including Treasury Secretary Timothy Geithner and top economic adviser Larry Summers. Federal Reserve Chairman Ben Bernanke also participated in the session. Obama echoed Summers' prediction a day earlier that the "sense of a ball falling off a table" would end in a few months. The president highlighted signs of thawing in the credit markets, particularly for small businesses seeking loans, along with tax cuts he said workers will soon see in their paychecks and a jump in mortgage refinancings due to historically low interest rates. Obama said those positive moves as well as infrastructure work and other spending underwritten by his $787 billion stimulus program all point to welcome signs of long-anticipated economic improvement. "We're starting to see progress," Obama said. "And if we stick with it, if we don't flinch in the face of some difficulties, then I feel absolutely convinced that we are going to get this economy back on track." http://news.yahoo.com/s/ap/20090410/ap_on_go_pr_wh/obama_economy
Yes, but what he didn't say is that it will be replaced by the sense of a table falling on your balls. barfo
