Stock Trader Larry

Hints of Risk Appetite Returning to the Stock Market?

I would be careful to place too much weight on the fact that:
"We're also seeing an increasing proportion of stocks--nearly half across the NYSE--trading above their 50-day moving averages".
That is to be expected when coming off of historic lows in a market which has been trending down rapidly for the last 90-100 days.
It doesn't take that much money and greed that has been sitting on the sidelines for so long to reach the 50 day MA in a down tending market.
Take a look at the chart the last two times the same level was reached, in April and August of 2008. Those were short term tops in the market and quickly reversed.
Be careful out there!

2009 Dow Projections

With unemployment rising, more possible bank write downs, continuing deflation, consumer credit card concerns and commercial mortgage market concerns all still looming, I will have to say the possibility is leaning towards the downside for a year from now. We will have to keep a close eye on the different scenarios as they come about in 2009.

Constant 'Bottoming Process' Calls Are Meaningless

I have to agree. All of the analysts and commentators calling a bottom are doing so with the "hope" of being right. just think of the publicity they will get if they are the one who called it right. On CNBC you keep hearing about the "Art Hogan bottom". Nothing against Mr. Hogan, but anyone on TV who called the bottom that day would be famous as well.
If there was a way to call the bottom with accuracy, more than one person would know how to do it by now.