The folks at
Ticker Sense part of the Birinyi organization posted this chart and asked is the
For my part I say no. This spike is not as definitively high as the others in the chart. Plus days like today when the market gets "good" news rallies sharply and then runs into selling and fails are not a good sign. Frankly, I don't expect the same kind of panic low market reversing bottom we have seen in the last decade. I hope we do see that but I believe we will see a more grinding bear market that is really demoralizing. So let's look on the bright side and remember Warren Buffett says any long term value investor in stocks should prefer falling markets because that is when you can buy things at low prices and buying low is where the money is made.
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