Time Cover: Soup Lines

Wednesday, October 08, 2008 | 02:00 PM

A few caveats with contrary indicators such as below:

First, they are quite imprecise in terms of time. Recall the August 13, 1979 BusinessWeek Death of Equities cover -- it wasn't THE low, but it was 12 years into a Bear market, and a respectable entry point that was retested a few years later. (The true breakout was 1982). Same with Jeff Bezos as Time's 2000 Man of the Year -- the market still had months and 1,000s of points to go.

But this tells us we are closer to the bottom then the top -- even if its only a trading low.

Time_mag_cvr_new_hard_times

Hat tip Kid Lane

Wednesday, October 08, 2008 | 02:00 PM | Permalink | Comments (83) | TrackBack (0)
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Comments

to piggy back barry's time cover, a poignant post at calculated risk:

http://calculatedrisk.blogspot.com/2008/10/adjustment-process.html

Posted by: karen | Oct 8, 2008 2:06:21 PM

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