Yeah we are rapidly approaching the point where tangible assets are on the table near book value in many div-paying stocks. This eventually becomes irresistible to the most conservative value investors and the bottom will be in.
But tomorrow may well be a Black Friday to remember, when the Dow drops 1100 points or more and trips a trading halt. Only an announcement of some very good news tonight will avert that now.
The problem is nobody cares about investing when they are fighting for mere survival.
there will be no successful test. We are in a meltdown of the financial system. The government does not know how to fix this.
The share price is not going to pop back up when it gets to the lows of 2002 because it is a support area.
We are in a major bear market. No technical channel lines will lend support, no fibronatzi numbers, no old lows are going to matter.
The large institutions holding stocks are selling them and the money is to be used for other purposes. They aren't pulling their cash out to put it back in the market later. The funds will be gone.
Earnings on US stocks are collapsing. In the big picture, the stock market is about earnings. Earnings dropping means stock prices dropping. If earnings drop a whole lot, then, well, you get the picture. We are sliding into at best a recession, with the collapse of the financial system more likely a depression, with good navigation by the fed and the treasury we won't slide into a great depression.
This is not the time to dollar cost average into anything.
This is a time to look for safety and fear inflation.
Best of luck, and God bless,
Its not the same market as 2002 nor is it going down for the same reasons either. Like when sports casters compare records from players 50yrs ago to those of today.
The game is different.