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Mauled by the Bears
By Jay | January 23, 2008
Everywhere I look now on the web I see more about how bad the stock market and housing market are doing. It’s fair to say that bearish sentiment is extremely high.
There’s an old saying among market players that when a picture of a bear appears on the cover of Newsweek or Time Magazine, the lows of the bear market have been reached. I just checked and unfortunately no bear appears on either magazine yet. But I do think that people are just too bearish now for the market to go down much more. In fact, I wasn’t surprised to see today’s little bounce.
I don’t think this bear market is over. But I do think that a week from now may be a better time to move into cash than today is.
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Stumble it!
Topics: Finance |
January 24th, 2008 at 4:09 pm
I think that when the mainstream talks about recessions and bear markets, we are already in the middle of it. - They always seem to be 4-6 months behind. Just my 2ยข
January 24th, 2008 at 8:23 pm
Yes, I agree totally with that, Dawn. And by extension, once people start being optimistic again, I guess the bear market will have been over for a while. I have to remember that.
January 25th, 2008 at 6:38 pm
Wow. I had never heard the bear sighting thing. Now, I will be on the lookout because I am just superstitious that way…..