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This Bear's Just About Played Out

Seems like Bernake wasn't aware that the bear market (which we haven't qualified for yet, but are on our way) is over:

Incoming information suggests that the outlook for economic activity for this year has worsened and that the "downside risks to growth have become more pronounced," Bernanke warned.

A housing slump, weaker home values, harder-to-get credit and high energy prices all "seem likely to weigh on consumer spending as we move into 2008," Bernanke said.

This Bear's Just About Played Out

Oh yeah, billb, if you think we're swamped in pessimism, go to B&N and look at the finance magazines. They are ALL bullish on 2008 ...

And that is why we have room to fall ...

This Bear's Just About Played Out

Funny. My friends at the largest PE and hedge funds in the world say we are in the second to third inning of the credit crisis. Did you miss the article cover of WSJ that shows how expensive debt insurance is getting? How about MBIA's debt offering that is not exactly finding a sponge?

With all do respect, you are merely encouraging those with no real time information to bottom fish. Once again, you can find thousands of articles like this from 2000-2001 ...

What is the catalyst for the turnaround? Housing is still in free fall, retail numbers were horrific, casual dining is slowing fast, credit card defaults are on the rise, and employment is softening.

Like you, I would love to be a bull, but there is no evidence to support going long yet ...