It was noted last night that yesterday’s loss on the S&P 500 was -6.66%. Also noted was the Bear Market end in 2009, where the S&P 500 bottomed at 666. This led longtime friend of the blog Redshark to christen the yet-to-be-formed-possible-future-bottom “The Devil’s Bottom.” As much as I like Fly and especially Chuck Bennett, his nomenclature is trumped as my blog is proof that the bottom was already named, yesterday evening.
Until it fails (more on that in future posts), let it be known that today will live in infamy as The Devil’s Bottom.
kass called a bottom earlier… he has gotten alot more of those right than wrong recently.
i don’t know what to think, or what exactly to buy except financials (which have been the cheapest stocks on the market for more than a year with no real winship). … ask berkowitz about that, or paulsen… not that i’ve done any better.
I sure as heck hope its a bottom, but as the bears always said in 2009, hope is not an investment strategy.
The numerologists+occultist in the illuminati are at work here!