We are starting the 5th leg of this BEAR Market. The 5th leg could deliver a crushing blow to the market taking the DJIA down to 6,000.
We will be in a very serious recession or a depression soon. Stock prices do not reflect this yet as compared to past severe recessions. Technical indicators and charts indicate that we have a way to go on the downside.
We could see MTH at $6 at the bottom. Keep your powder dry and be cautious until we get a better price.
I wish I didn't agree with you... but I don't think we've bottomed yet. It'll be interesting to see what the market does tomorrow. If we open higher again people might panic and chase the rally as not to miss a recovery... there was likely some of that behind the late day push today when the market failed to fully get a sell-off going after the higher open. I think the S&P will bottom somewhere between 650 and 500. I don't think we're headed for a depression though... I hope not.