Weekly discussion of financial markets, economics, politics, and the media. A member of Wall Street's Digital Underground since 1995
Wednesday, July 09, 2008
off to the races ...well sort of
So how does the sell off end and how does the rally start ? Unlike the huge oversold bounces of the previous decade the current decade has hard sell downs under low volume, little or no capitulation, followed by a rapid re-flation of equities values under steady volume. The key is no one calls the bottom and stocks are up 20-30% by the time anyone realizes the party has already started. The up motion of the market is characterized by a subtle shift from sellers to buyers and a slowly and steady building volume .
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