Such a difficult time to think about buying/adding to core positions. But I've begun to wonder, if not now, then when? S&P 650, 600, 550? And I am thinking about this against a back drop of many long-term investors asking me if this is the time to sell! Clearly many, maybe most have already made that call. A Martha Stewart "Good Thing?" But, obviously we all want to see more signs of stabilization first, and today certainly isn't providing it.
The gap up was quickly filled, though S&P 675 stemmed the morning tide. Internals aren't great, but up volume is struggling to keep pace with down volume, and cumulative tick is net neutral on the day, albeit downward sloping. Will today prove to be a market nadir? No bottom calling yet, time will provide us with more clues -- but looks like we are awfully close. Let's see some comments gang!
Reading: Calculated Risk/ Comparing Past Recessions
Wednesday: Existing Home Sales, Bernanke Testimony and more
26 minutes ago