Quote:
Originally Posted by competentone
It may sound like a cliche, but would have been good advice to take for anyone who has been buying on the way down: "Never try to catch a falling knife."
I think we have a lot more downside. There are still too many people in "the market" -- often invested though retirement accounts -- who have no clue about what they are buying and no understanding about how to place a value on a business.
I won't believe we've hit bottom in this stock market until we see things such as the "Cayman Island stock issues" like "BIDU" crashing to a fraction of their current values.
There are still too many stocks that are insanely overvalued.
There is still too much bad debt on the financial companies' balance sheets which hasn't been written down properly yet.
The selling ain't over yet, IMO.
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+1. If you haven't sold by now, ride it out. I'm holding the few positions I still have. If they go to zero, they go to zero. I no longer care.
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Market analysts call this "capitulation point" and it generally represents the turning point for a bear run. However, I in no way represent the market-at-large. However when enough people start thinking this way, things will start to turn. Doubt it'll be for a while though.