I have been waiting and waiting, for two years, for this market. Was betting on the bottom being 9-10000. Wondering now if it might be more like 8000-9000. Still, timing the market is not wise. Getting in some now and more over the coming weeks.
It is very possible that the Dow could test these 7-8000 lows. Can’t imagine much more than that. Then again who thought we would be where we are today. Big mess.
8 Oct 2008, 1040 hrs IST,ECONOMICTIMES.COM
MUMBAI: Markets opened sharply lower Wednesday in line with other global markets following distressing comments from the US Federal Reserve Chairman Ben Bernanke. He cautioned that downside risks to economic growth have worsened and signaled that policy makers are ready to lower interest rates as the credit freeze poses an escalating danger to the economy. He added that the world financial system is under 'extraordinary stress' and history shows that severe instability can take a heavy toll on the broader economy if left unchecked.
“I’m sure not betting one cent on that prospect.”
How about one yen? ;)