PatriotsReign

Interesting article from Bloomberg;

S&P 500 May Fall More as `Retest' of Low Fails to Spark Rally

Bloomberg.com: Worldwide

"De Graaf, the highest-rated technical analyst in Institutional Investor magazine's survey the past four years, said other indicators suggest stocks will keep falling. They include declining stocks outnumbering rising ones; higher trading volume when the market is falling than when it's rising; and two- year Treasury note yields near record lows at 1.17 percent, an indication investors are seeking to avoid risk.

Yearlong Drop

The S&P 500 tumbled 44 percent this year to a five-year low on Nov. 13, and dropped 48 percent from its October 2007 peak, according to data compiled by Bloomberg. Stocks were dragged down by almost $1 trillion of writedowns and credit losses at financial companies globally stemming from the collapse of the U.S. subprime mortgage market.

The index is headed for its biggest annual decline since the Great Depression, when it fell 47 percent in 1931. Of the 30 stocks in the S&P 500 that traded at $100 or higher at the peak, 24 now trade under that threshold, and eight fetch less than $50, according to data compiled by Bloomberg.

The Nov. 13 slide pushed the S&P 500 below its previous intraday low for the year on Oct. 10. The index fell 2.6 percent yesterday.

``The final low will be much lower than this,'' and may not occur before the fourth quarter of next year, de Graaf said. "

Lifer

Im preparing by watching every episode of "The Waltons"

PatriotsReign

Thanks Lifer, I needed some humor!

BelichickFan

You can find an expert to say whatever you want right about now. That said, there's just no catalyst to move it higher. I finally gave up and moved 40% of my retirement out of stocks and all my new contributions are going to a money market. I'll revisit putting more into stocks if/when we hit about 7K. Until then I'll leave the 60% in stocks for some upside and be happy with the 40% + new contributions being safe.

PatriotsReign

Believe me, I don't "want" my 401K to drop any lower BF. The only thing I WANT the stock markets to do is increase everyday for the rest of my life...but that aint happening.

I'd say you and I along with all the so-called experts are equally baffled. No one knows when the hell this will all end and sanity will be restored.

I'd post a thread called "we're at the market bottom today!" if I actually believed it.

sdaniels7114

Don't forget literature. Steinbeck's writing will be particularly informative over the next few years, I think.

Back bacon, its what's for dinner.

Lifer

Parents, have your children reading Oliver Twist as much as possible. Kit Kitteridge is a good read too, I hear.