People here on AF have been calling the market bottom ever since August. Does anyone think the equity market will go down further? Seems to me the people calling the bottom last week (Dow 7773) are correct so far and that will be the low for the year.
However, my guess is when the new administration takes office in January, they will take the opportunity to clean house and air out more bad news. We might go even lower then. Also at that time, the recession will be officially ‘confirmed’ as GDP will have slowed in 2 consecutive quarters.
The worse may be behind us, but there’s still more pain ahead. What do you think?