(02-28-2020, 11:41 AM)The Real Marty Wrote: So... down another 1,000 points this morning.   I remember at the depths of the financial crisis, when the Dow hit around 8,000, and things were really scary, Warren Buffett said "now is the time to buy..." It went down to 6,600 as I recall, and that was the bottom.   So anyone who heeded his advice would have made a lot of money.

No one can call the bottom except by sheer luck, and no one can predict what the market will do in the short run, meaning less than at least a year or two.  Long run, the market always beats everything.  Because business beats everything, and there is nothing as powerful as human greed and ambition and ingenuity.

The market is kind of acting like it's searching for the bottom.  It can go either way at this point.  The last hour of trading should be interesting.  As I type this (2:38 PM Eastern) the DOW is "only" down around 660 points.  There have been a lot of wild and crazy swings all day, but we never got positive.  The last hour of trading can cause a major swing one way or the other.  I'm still hoping and predicting that it swings more positive and ends up closer to being flat.  If it goes the other way (a very good possibility) we may not see much in the way of a recovery until well into next week.

I am still in on a few things that I have been long on and am still not going to touch those.  Depending on how things go I may consider getting back in sometime in the next week or so.  In the meantime I'll sit on the sideline with cash making very little.

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