As we speak the market has just put in a "technical" bottom. After being down a record amount this morning we just went POSITIVE and the dow is rallying. If we can close positive that will be a very positive sign of a bottom being put in.
If it were my money I'd be a buyer here.
Post Close Update :
Dow Down -107, Nasdaq up 5. Five minutes after the close we are still seeing the numbers change which indicates the heavy volume and trades are still being sorted out. Right now it looks like -126 Dow and +4.39 Nasdaq but that could change.
The worst week in the entire 112-yr history of the markets.
However the good news is that we indeed went positive after being down huge today and that is an excellent indication that a bottom has been put in. After such a HUGE losing week if indeed this is true then we should see some nice rally's next week.
This shows that there were plenty of people on the sidelines waiting for someone to step up and buy, and when that happened they ALL jumped in. So now instead of the fear of the market going down you have the fear of missing buying the market bottom.
Make sense? I hope so - feel free to comment.