Tuesday, January 20, 2009

This is What a Bear Market Looks Like Folks

This is the sixth time I've posted this cartoon since September 5.
(That's pre-Lehman, pre-Merrill, pre-AIG, pre-Wamu, pre-Wachovia etc.)
I'll keep posting it until the bottom-callers get sick of me.

So we can look for a bounce but think of these names as a trade; bear markets can suck you in. When I first came to the market, one of the older traders told me he was saved in the '73-'74 bear by a cartoon:
(click to enlarge)

That's Alfred Frueh's January 16, 1932 New Yorker classic, "Just around the Corner", commenting on President Hoover's statement that "Prosperity is just around the corner".