Alan Brochstein

The Bear Turns Mildly Bullish

At this moment, I certainly regret my own position as well as sharing with the world that I have relaxed my bearishness near-term when I do maintain grave concerns about the balance of the year and the recognition that I am underestimating the near-term risks of a major crash. Predicting an exact level or an exact time-frame is obviously challenging. I became very bearish in July, yet it took quite some time to play out. In both 2001 and 2002, the path towards signficantly lower prices was paved with brief but powerful trading opportunities. I do sense that we are near one, but my confidence level is certainly not that great. So, in response to the question from "foreigner", I say yes, I still think so, with the continuing caveat that this is a high-risk call only for speculators/aggressive investors as I mentioned in the article.