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Stop Calling for a Bottom

October 26, 2008

A watched pot never boils.

Stock Market Pundits continue to make “bottom calls” and continue to be DEAD wrong.  The constant watch for a “bottom” will prolong the time table for our stock market bottom.  While the USA will surely suffer more losses, but what will be devistating is the fall of exports coming out of China.  The USA has outsourced its consumer recessionary manufacturing, in essence smothering what potentially could be devistating effects of a declining economy.  So as the “bottom callers” continue to be wrong, the stock market will continue to discount the declining world economy.

At this point in time the market significantly lacks the type of leadership you need to see in order to sustain any sort of uptrend.  Without leadership all secondary indicators like put/call, NH vs. NL, and VIX/VXN.   Even now, these secondary indicators have yet to line up to suggest an uptrend is headed our way.

I’ll reiterate my statement on Friday:  This market remains TOXIC.

MS

Stop Calling for a Bottom

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Written by MarketSpeculator · Filed Under Market Speculator 

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