gfp: Rinear says we're oversold. Unless Powell comes out more aggresive tomorrow than is currently anticipated (unlikely) then Rinear expects a short term mini relief rally. But he expects any rally to only hit another lower high followed by a lower low. The market will continue the one step up, two steps back pattern until despair and then finally capitulation sets in. About 65% lower than the market is today. Look back at the Dividend yield on the S&P at previous bottoms. When we get back up into that territory we will at least be close to a bottom. At that point I'll move at least half of my funds into high quality dividend paying stocks.
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