harley
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
This time it really is different.
No its not.
The government can only do so much to bailout the financial institutions and prop up the market. They are running out of ammunition. In the coming months there are going to be millions of layoffs which will lead to even more people losing their homes causing even more pressure on the banks.
Since this is the basis of your prediction, where are you coming from? Have you read articles that say that "millions of layoffs" are coming? Or are you just feeling depressed and negative? I agree that the worst isn't over, but I think you are off by a factor of 10, if not 100 on the layoffs (my gut feeling). And if so than the rest of this doesn't follow.
Also it is the beginning of the commercial realestate meltdown and bankruptcy of the big three. There are more shoes to drop before we even start to recover. I expect the market to rise for a few weeks and then start it's search for the real bottom betwwen 5000 and 7000 after the holiday season..