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« Interpreting Market Action | Main | John Hussman and the Fed Model »

August 16, 2007



It does look like Thursday's low was the bottom.

Bill aka NO DooDahs!

The "who is dumb" section almost, almost!, strikes me as very timely bullish capitulation.

"Dumb" is following emotion or not having a method. Even "smart" methods have lots of losing periods, drawdowns, et. It takes more than a month to call a method "dumb."

I think four consecutive years of calling for a crash that doesn't happen (you know who), or four consecutive years of underperforming the SPX (you know who), is enough evidence to call a method "dumb."

Let's compare our early buys in this correction to the others' late buys, and see if either is closer to the bottom ...

John Forman

If you really want to get picky, the home building and related stocks have taken more of a beating than the financials, though it's been over a longer period of time. However, your point is taken. The fundamentals for the banks and brokerages will not have been harmed much by recent events. One could even say that for some of them they have been improved going through this whole washout.

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