Slow Motion Bottoms

The slow motion bottoms we have been seeing recently are tough because they give you too long to doubt yourself. I remember the good old days when I used to be able to buy into a scary panic, take a walk around the block and come back to see that the S&P 500 rallied 20 points. Now that we finally got our slow motion bottom I think the market could rally through the end of the week.

I wanted to address something a reader said on the message board today:
I find it amusing that you emphasize any positives when you are trading long. Then, when you sell or short you immediately flip and emphasize why the markets will drop.
There are a lot of valid critiques that could be made about me but this simply isn't one of them. I always point out the bull case and the bear case regardless of which way I am trading. I have been one of the biggest economic bears regardless which way my portfolio was positioned. Have a good night.


aaron said...

If it is a slow motion bottom, we should get a chance to get long tomorrow at pretty good prices. We will see. Its always hard for me to get long at a slow motion bottom. If its too easy to get long at a certain price then it has a greater chance of being wrong.

Tsachy Mishal said...

The July low was a slow motion bottom. We hung around 1020 for a few days before we finally took off. I find it harder to stick around when we are hovering at the lows. Too much time to second guess.