Retest !

Wednesday, October 22, 2008 | 10:15 AM

Dow is under 8,700 -- is this the expected retest of the prior lows?

The news is certainly as grim as ever:

Wachovia writes down $23.9. billion
Grim Earnings Weigh on Stocks
First Birthday for the Recession?
Kerkorian’s Ford Exit Sparks Fear of Failures at Big Three
California Home Sales Revive With Intense Pain   
CDO Cuts Show $1 Trillion Corporate-Debt Bets Toxic

Mervyn King warns of Britain's 'long march' out of recession

I noticed that last night, there were many cogent arguments against the bull trade right here. Note that Mark Hulbert is also in the "No Capitulation" camp

Wednesday, October 22, 2008 | 10:15 AM | Permalink | Comments (64) | TrackBack (0)
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Comments

Pretty grim out there. I filled a bid this morning that would have been a joke on Leno's show not too long ago, and no I didnt buy stock in John McCain.

Posted by: catman | Oct 22, 2008 10:22:39 AM

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