Crisis Diary as it unfolds ….

Is it a bottom yet?

We touched Nov lows again on DOW.

But after initial lower open, markets decided to rest at the level forever. As Bob Pisani of CNBC said, there was anxiety but no panic.

I guess tomorrow is crucial. If market bounces off from these levels in coming weeks we might see another 10-15% bounce.

Jim Cramer looked frustrated on his show today. He did not call it a bottom. I think this is ultimate capitulation. But whether is this the bottom? Anyone’s guess is as good as anyone else’s.

Advertisements

February 17, 2009 - Posted by | Opinions | , ,

2 Comments »

  1. I think we will see the Dow @ 7,000 before too long. There does not seem to be any good news on the horizon with only bad or worse news to look forward to.

    Comment by SpinDoctor | February 18, 2009

  2. We could. It is very precariously poised. Any trigger from somewhere and it will fall off the cliff.

    Roubini has been predicting 6000 on DOW for a while now. But his calculation is 60eps * 10p/e. Economist can estimate EPS, but predicting P/E is not possible.

    But regardless of what the bottom is, recovery is definitely not in sight.

    Comment by Aniket Kanade | February 18, 2009


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: