fineye

Expect the Real Rally by Mid-2009

In 2007 majority believed 2H08 would be the start of recovery, we now know how accurate it was. Housing was supposed to bottom out by end of 2007 and stabilize in early 2008 and start moving 'up' in 2H08. It is not about 'optimists' and 'pessimists', it's about 'extreme uncertainty'. No matter what 'experts' say about past recessions and compare that with the current one, it is Never the same, and the economy will always surprise.
Better not try to catch the bottom, it is a traders market, or you could also take it as an investors market if you have a 5-10 year horizon.