Terrible. This is why there are no longs left. You have to make a ton on the rebounds, and not get beaten up quite as bad on the collapses. Still long
I guess my final take is that the drop through 1406 initially was a bad sign, and the lack of a fast, sustained rebound after the break of 1368, has confirmed that the bear isn't over. My st ta take is that we should rebound for a couple weeks at least to 1420, and then drop to at least 1260 in February. Beyond that it is hopeless to guess because of how this market acts. And yeah, it acts like it wants to go to zero, now. The market is predicting something very, very, bad. Years and years of aggressive US imperialism to allow for better decades much later?
Is this really about overcapacity still, or modest increases above average of consumer debt loads?
Maybe the market will be wrong, as it certainly was on 3/10/00.
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