Fannie Mae Preferred S (FNMAS)

[rosen62]

I don't have those answers but peaks in stock market -and recessions- are associated more with a heated economy. So this may not be a 92, 03 or 09 style of bottom but definitely not a peak. I guess we will know in retrospect. Six months to a year from now when financials start posting huge profits. That is my Fed's leap of faith.

As for cycles, it could also be that so far all what we have seen was "damage control" to return to the pre 08' world as much as possible and set the stage for a new bull. In that sense, this could be the build up of a 1982/84 bottom here. The economy hasn't really gotten started yet, in a solid, strong sense. As nervous as I am, I am not playing this as a top.