Call the bottom!

[JTH]

I'm calling the bottom

S&P 500 intraday @ 654

You heard it here first... :toung:

Anyone else brave enough to call it?

[XL-entLady]

Anyone else brave enough to call it?

Nope. :nuts:

Lady

[etftalk]

I'm calling the bottom

S&P 500 intraday @ 654
You're saying 654 will be the bottom, not that we saw the bottom today, correct?

[JTH]

You're saying 654 will be the bottom, not that we saw the bottom today, correct?


That's right! :toung:

[Gumby]

After today, I would hate to even speculate if we are near bottom.
What is going to happen when GM files for Bankruptcy?:eek:

I am afraid we are in unchartered territory.

[Here$14U]

I'm not kidding!:toung:
Dow 3,000:eek:
S&P 300:eek:
by late 2010!!
Of course there will be intermittent rallies but don't fall in love with them!!:rolleyes:

[Show-me]

I feel we are close but will got to the 600's on the S&P. I am DCAing my way in but do not expect a big rally, rally, rally. More like a slow, slow, recovery.

[Gumby]

I'm not kidding!:toung:
Dow 3,000:eek:
S&P 300:eek:
by late 2010!!
Of course there will be intermittent rallies but don't fall in love with them!!:rolleyes:

That would be devastating!

[JTH]

Today's low... 666.79

I don't think that's mere coincidence, people are superstitious.

[alevin]

Anywhere from 200-600 (before we're done, maybe 600 for the interim bottom, maybe, if we get one). And I"M not kidding. Wish I was. I was eyeballing 600 months ago, Lady will attest to that. Just hope we all come out of this alive and able to retire decently before the age of 70 (me), or stay retired (as in Lady's case).

[XL-entLady]

Anywhere from 200-600 (before we're done, maybe 600 for the interim bottom, maybe, if we get one). And I"M not kidding. Wish I was. I was eyeballing 600 months ago, Lady will attest to that. Just hope we all come out of this alive and able to retire decently before the age of 70 (me), or stay retired (as in Lady's case).
Yep, I can attest to the fact that Alevin was telling me months ago that we'd see around 600. She also told me last year that she thought around 400 was not out of the question. And yes, being retired without the option of going back to work is a little worrisome in this economy. Just one more reason why I love this MB and what I'm learning here. :)

Lady

[etftalk]

I have to admin that after 741 and 700 were taken out, I am at a loss as to where we go. Support going back 20, 50, 70 years doesn't even make sense to me. Except for the self-fulfilling prohesy aspect of TA, the psychological reason for those old support levels, which to me is what a lot of technical analysis is, must be gone by now.

I am thinking that it is going to be an arbitrary level, when it comes, but it will likely coincide with something like a rising GDP number (month over month) or a rise in earnings estimates.

[James]

I'm calling the bottom the 666 we got the day before yesterday.

It's up from here.

They are going to reimpose the uptick rule, change how they do mark-to-market, and that's going to change attitudes everywhere, and we'll start heading up.

We may have another gyration or two here, but i think 6-6-6 is going to hold as the bottom of the 2009 depression.

Or at least that is what I HOPE.

Time for some recovery.

[XL-entLady]

I'm calling the bottom the 666 we got the day before yesterday.

It's up from here.

They are going to reimpose the uptick rule, change how they do mark-to-market, and that's going to change attitudes everywhere, and we'll start heading up.

We may have another gyration or two here, but i think 6-6-6 is going to hold as the bottom of the 2009 depression.

Or at least that is what I HOPE.

Time for some recovery.
I bought FAZ today at $66.60 as a kind of symbolic gesture. That would bring some symmetry to this situation, wouldn't it? The idea of 666 being the symbol for Nero Caesar (or possibly Caligula, depending on which scholars you read), and the rebellion against the old power base. :nuts:

I'd love to think that we're at the bottom. Time will tell.

Lady