KRANKY

Investor Sentiment and Market Returns: Now's the Time to Be Bold

The unwinding of leverage and exposure of illiquidity still has a long way to go.
What we are in now is not your typical cyclical bear. So many businesses have engaged in Enron accounting, and this has to play out.
We might have had a capitulation crash that would have made reality clear, but, due to the trading stops put into effect after '87, that is unlikely to happen.
This means that the LL/LH rollercoaster will be protracted and deeper than projected.
I see S&P500 at 1,130 as the best before this slide is over, with the 50% possibility of 930 if this is the secular bear it is looking more like.
I agree with others here: jumping into the markets full-fledged now would indeed be bold, but I think early.