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Trying to pick a bottom in this market has been a futile effort. I continue to buy on these heavy drops knowing full well I am going to still feel pain. No support at any level down here (short of the psychological level of 700 on the S&P).
The good news is we are starting to see a wash out. When everyone is negative that's a good sign. Everyone needs to lose hope and just give up. Then we can start talking about a bottom being formed.
Hiding in gold could be a mistake right now as well. Margin calls will be coming in fast and furious and the first thing people are going to sell is the winning positions they have (IE: gold) to make the calls.
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Contact: Email (preferred): furiousmale .at. gmail - Skype: live:shanedws
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