I don't think we are anywhere near the bottom. The market is in negative territory again. Watch the last hour and how it closes. My prediction, unless something happens between now and the close that the market will close heavily down. A lot depends on the lehman guarantee call up and how it fares.
LOlz anytime i post something there is always a disagreement :S
ehtsab and ehsan bro do u guys hate me or somthing :S lol
well i posted all the reason that y i think the bottom is near eg) rule of forced movement and investors interviews from those channels and ali velshi.
and in the end i also wrote that i might be wrong, as warren buffet was wrong aswell.
but now leme explain something else aswell. i dono if u guys are professional traders/ economists but there are two things in the markets 1) support and resistance and 2) historical data.
despite all the helps and policies from FED and treasury the markets kept on plunging and kept breaking the previous supports, now the rule of thumb is the older the support the stronger it is. so we r going towards the strongest supports ever.
and now coming towards the historical data. history proves that whenever a country goes into a recession or depression, ppl keep on loosing their jobs, companies keep on going bankrupt GDP keeps on shrinking BUT BUT BUT BUT BUT BUT stock markets start going up months before the depression/ recession ends.
it might not makes sense for u guys, but that is true and history proves it. Investers never look at the present, they always look at the future. in depression/ recession u get the real deals, amazing bargains. y did buffet boghut $3 bilion of prefered shares of GE that was about to collapse?? y did Buffet give billions to Morgan Stanley, a company that has NEVER done commercial banking b4. cuz he knew he is getting bargains that he wont get once the recession is over.
so the whole point is that big investers always come in when the market is collapsing and ppl are panicing, and they get bargains, and stock markets turn bullish despite of negative growth, job losses and bankruptcies.
history is evident.
but i might be wrong as i said earlier, m just a human being.