It's looking like we're in for some tough times ahead, with the markets crashing and no end in sight to the pain...but I did hear two sure local signs that the bottom is near, if not here right now. First, a family member mentioned that he just sold all his stocks and got out of the market. Then in the gym I overheard another guy mentioning (bragging?) that he's sold out of the market as the TV announcer went on about how we're at levels not seen since 1997.
Now Europe is looking like it could completely melt down, especially Eastern Europe...but I have a sense that the market is near a bottom (even though a true recovery may take years). In fact, I will officially predict that the S&P 500 will not go under 700 in our lifetime (it closed at 700.82 today). Blind optimism? Time will tell...
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