Thought For The Week
From Richard Russell of Dow Theory Letters:
“What I think we’ve seen, so far, is the end of forced selling. At this point, professionals are trying to gauge whether the huge market collapse of 2007-2008 has discounted the worst to come or whether ‘the worst’ still lies ahead,” The drama should be played out over the next week or so.”
Source: http://www.ritholtz.com/blog/2009/02/words-from-the-investment-wise-21509/ My thoughts: He is referring to the bottom of that trend channel we have been discussing over the past few months. Right now that line is being watched almost more than anything else by most market pros.
“What I think we’ve seen, so far, is the end of forced selling. At this point, professionals are trying to gauge whether the huge market collapse of 2007-2008 has discounted the worst to come or whether ‘the worst’ still lies ahead,” The drama should be played out over the next week or so.”
Source: http://www.ritholtz.com/blog/2009/02/words-from-the-investment-wise-21509/ My thoughts: He is referring to the bottom of that trend channel we have been discussing over the past few months. Right now that line is being watched almost more than anything else by most market pros.
posted by CR English at 8:36 AM
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