--Louden Swain (Vision Quest)
If you wondered what markets feel like in meltdown mode, this is it. Shedding a couple of percent daily, rampant pessimism, longstanding stalwarts getting sold. The Dow is now printing a 6 handle.
Lots of folks dialing 1-800-Get Me Out Now to relieve the pain.As the news flow heads from dark to darker, it's hard for the contrarian in me not to wonder whether we're close to a bottom.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
2 comments:
This has been a far more orderly exit than Sept. or Nov, as the VIX remained near 50. I've never had any luck calling extrema, so I restrict my bottom analysis for Hooters visits. Nevertheless, I've found that looking at the composition of remaining market participants is an enlightening excercise.
Some indicators suggest orderly exit. Others (e.g., Lowry's, some sentiment indicators) suggest extremity. I like to look at the entire soup for clues.
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