Ritholtz: How We Know It's A Bottom

Barry Ritholtz, who has been dead right about the market crash, is now compiling anecdotal signs of a bottom. He still thinks we’re going lower eventually, but right now he’s moving in for a trade:

Over this past week, we have been noting many contrary indictors that suggest we are closer to at least a tradable low than we are the highs (our prior downside targets were 10,000, then 9500, and most recently, 9,000).

 

Consider the following anecdotal evidence:

 

A new blog focusing on those dramtics floor broker photos:

Sad Guys on Trading Floors 

 

The classic magazine cover:

Uber bull Jim Cramer, who has been so positive on equities from 14,100 down to 10,000, threw in the towel on Monday:

Contrary Cramer Buy Call ?  
While we doubt this THE low of the 2008-2010 recession, after a 5,000 point Dow drop, we are scaling in for a decent sized trade. Look for our commentary coming out later this week (after the holiday) reviewing the quantitative data analysing whether this a tradable low or not . . .

We, too, noticed that Cramer call.
See Also: Cramer: PANIC NOW AND SELL EVERYTHING!!!

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