Where is the bottom ?

The Dow slipped below 8,000 for the first time in 5 years today. Where is the bottom of this plunge ?

 

No, it closed below 8000 for the first time in 5 years.

Where's the bottom? Around 5-6k.

 

Oh jeez! I was going to say 7200. I hope I'm right and you're wrong.

We should really have a poll.

 

Some of the "experts" are saying that the market is waiting on the outcome of the proposed auto industry bailout. Conventional wisdom says their should be some real bargains out there. Of course that same wisdom would have said it won't fall below 10,000.

 

Wise, I was thinking that the market wouldn't fall below 7K when all this started but I'm not so sure now. Looks like the auto bailout is on hold and assuming the market doesn't like that, it could be bloody. Course heck, it's not like the financial bailout turned the market around or anything so I'm not sure why we would expect an auto bailout to turn the market around.

 

200 year trend line shows 3-4k. I don't think it will get that bad for a few months though, if at all. I still say 5-6k.

 

BTW, 7K would essentially mean the stock market is half-off. Thus, I am continuing to buy but then, I have 35 years until I would need this money.

 

You'll know it when the civil war starts.

 

I'm buying. I figure that if it don't come back and these companies don't recover.......we're sunk anyway. Buy....Buy...Buy...

 

Today?