We are habitually, nay pathologically,skeptical of market rallies here at MarketBeat.
But we are trying to become better-rounded individuals,
learning which forks to use in which portion of the frozen-dinner
tray and learning not to immediately scoff
when somebody gives us some data that challenges our
preconceived notions.
Dan Greenhaus of BTIG, who is already a far better-rounded individual than we are, but also shares some of our notions about the direction of the market, makes us sit down and eat this bullish nugget like a plate of peas today...MORE
I had a comment:
[of course you did -ed]
- The history of big three-day moves.
- Click for ginormous image.
What’s the upside? What’s the downside? What’s the time-frame?
In the instant case the question is: Were this week’s lows the lowest the indices will ever go?
Or do the bottom callers mean the low is in for this quarter?
If we are ina secular bear market, and after 11 years (since Naz 5048) it’s starting to feel like one, we could see lower lows until 2020.
There are reasons to think this one might be done quicker than the ’66-’82 iteration:
December 31, 1964: DJIA 874.12 December 31, 1981: DJIA 875.00
“Now I’m known as a long-term investor and a patient guy, but that is not my idea of a big move.”
-Warren Buffett