Calling the bottom!

[Helen]

I wang to post something along the lines of what 2B just posted.

This morning might be a good time to put a little more of my TSP into stocks.

 

[toofrugalformycat]

For those of you not in the mood for humor, ignore this post.
Am I the only one who really wants to call the bottom?
I want the bottom here right now, don't you?
Here is how I "Call the bottom" (title of this thread).
"Here, bottom, bottom, bottom, soooeee, soooeee, here, bottom, bottom, bottom".
I bought a little U.S. index stock last Friday and might again this Friday if I don't chicken out.

 

[TromboneAl]

"Here bully, bully, bully."

 

[Looking Ahead]

I have been calling "Bottom!" to the top of my lungs, but alas, to no avail. I am ready to ride the elevator UP.

 

[2B]

It looked like we were finally going to have a decent day around noon. Things weren't bad until the S&P fell 3% in the last 30 minutes. I can't help but believe that there is something rotten in Denmark or at least New York.

The S&P 10/10 low wasn't taken out but it's almost there. Any significant downside tomorrow will end my claim (this week anyway) of picking the bottom.

 

[Hal3]

At market open this morning, just bought 1000 XLKs, 1000 XLUs, and 500 XLPs.

Wish me luck.

Well, if I lose money, I still find solace in reading about people who bought at the "earlier bottoms", before I did.

To make money in this market you must be willing to lose a little on the way down or have ESP and call the exact market bottom.

I don't think you will regret this purchase five years from now.

But hey, my thinking that is another red flag!

 

[DblDoc]

It looked like we were finally going to have a decent day around noon. Things weren't bad until the S&P fell 3% in the last 30 minutes. I can't help but believe that there is something rotten in Denmark or at least New York.

The S&P 10/10 low wasn't taken out but it's almost there. Any significant downside tomorrow will end my claim (this week anyway) of picking the bottom.

I'm just guessing but I'll bet that anyone who has to sell (cough, cough, Hedge funds, cough) will be dumping whenever there is even a slight rally.

The great deleveraging of 2008 continues...

DD

 

[al_bundy]

might have us a rally going

 

[Dawg52]

Good lord have mercy. What happened today? First time I turn on the news all day and I see the DOW closing around 900. Maybe I will grill a steak tonight.

 

[NW-Bound]

See how quickly fear turns to greed? Never fails for me...

 

[al_bundy]

think it's up too much to buy in, we'll probably correct a bit before another move up

one of my newsletters even had a scenario where the SP rallies to 940 and then falls below the Oct 10th low

 

[Bestwifeever]

Let's hope we've hit the bottom already--today Dow and S&P up 10 percent, NASDAQ at 9.5 percent! As the great Peter Boyle would have said as Frank Romano, "Holy Crap!"

 

[d]

it ain't over till it's over ... i'd not be surprised to see lower numbers than what we saw yesterday. on the other hand, i won't complain if yesterday was it!

 

[MasterBlaster]

Today was a classic "bear Market" rally or perhaps better named a "suckers" rally. It is caused by short-sellers covering their short positions.Don't be fooled. The worst isn't over yet.

 

[toofrugalformycat]

For those of you not in the mood for humor, ignore this post.
Am I the only one who really wants to call the bottom?
I want the bottom here right now, don't you?
Here is how I "Call the bottom" (title of this thread).
"Here, bottom, bottom, bottom, soooeee, soooeee, here, bottom, bottom, bottom".
I bought a little U.S. index stock last Friday and might again this Friday if I don't chicken out.

Hey, I call the bottom yesterday, and today it goes up over 800 points!
Maybe I've found my new retirement career.

I wish I was serious.

 

[NW-Bound]

\one of my newsletters even had a scenario where the SP rallies to 940 and then falls below the Oct 10th low

So which one do you follow?

 

[NW-Bound]

it ain't over till it's over ...

How can it ever be over? For me, the fat lady sings when I am 6ft under, or in the incinerator.

PS. I meant I try not to gloat when having a good year, nor to sweat it too much during a bad year.

 

[Gotadimple]

Well, this feels a LITTLE better. Hope it doesn't get vaporized tomorrow.

 

[al_bundy]

So which one do you follow?

both of them had this as a possible scenario, except one is a bit more short term oriented and the other one has a forecast out for a few months

the rally to 940 completes a triangle that has been building for the last few weeks and the odds are that a triangle in a bear market is consolidation on the way to the last leg down. opposite is in a bull market

other points against this rally

Cramer is giddy
The technical analyst on CNBC's Fast Money is now saying this is the end of the bear and he's been wrong every time they had him on in the last year. or he's been lying.
rally is too big, the entire gain happened in the last 2 hours of trading

 

[kumquat]

both of them had this as a possible scenario, except one is a bit more short term oriented and the other one has a forecast out for a few months

the rally to 940 completes a triangle that has been building for the last few weeks and the odds are that a triangle in a bear market is consolidation on the way to the last leg down. opposite is in a bull market

other points against this rally

Cramer is giddy
The technical analyst on CNBC's Fast Money is now saying this is the end of the bear and he's been wrong every time they had him on in the last year. or he's been lying.
rally is too big, the entire gain happened in the last 2 hours of trading

I agree with this guy on TA:

"Thousands of experts study overbought indicators, oversold indicators, head-and-shoulder patterns, put-call ratios, the Fed's policy on money supply, foreign investment, the movement of the constellations through the heavens, and the moss on oak trees, and they can't predict markets with any useful consistency, any more than the gizzard squeezers could tell the Roman emperors when the Huns would attack." - Peter Lynch

 

[MasterBlaster]

What exactly is a gizzard squeezer ?

 

[Khan]

What exactly is a gizzard squeezer ?

Haruspicy is the inspection of the entrails of sacrificed animals, especially the livers of sacrificed sheep and poultry.

Haruspex - Wikipedia, the free encyclopedia

 

[MasterBlaster]

OK I get it...

a gizzard squeezer is kind of like your mother-in-law.

 

[REWahoo]

What exactly is a gizzard squeezer ?

It looks a lot like a lemon squeezer, but with shorter handles.

Actually it is the practice of haruspicy, divination through "...the inspection of the entrails of sacrificed animals, especially the livers of sacrificed sheep and poultry."

Edit: Cross posted with Khan. Should have known she'd be our gizzard squeezing expert...

 

[Gardnr]

Today was a classic "bear Market" rally or perhaps better named a "suckers" rally. It is caused by short-sellers covering their short positions.Don't be fooled. The worst isn't over yet.

Undoubtedly! How else could you possibly explain a 13.6% gain in the retail sector when we're staring a huge drop in consumer spending in the face?! Weird.

Nothing rational about the market on a daily basis.