:: The Market Oracle :: Financial Markets Forecasting & Analysis Free Website: “He was just spotted by me on the cover of CBS Marketwatch homepage Fri 523P CST. Will he make to the cover of Time, Newsweek , or Biz Week for Monday?”
The reference was to this growling grizzly shown below. It couldn't have come at a better time (from a contrarian's perspective)!
So there you have it, mainstream media sentiment in microcosm. The sentiment couldn't be any more bearish right now. Everyone is talking about recession and more financial turmoil as if it's inevitable. That by itself is an indication that the stock market has already priced in the worst and an interim bottoming process is well underway."
“He was just spotted by me on the cover of CBS Marketwatch homepage Fri 523P CST. Will he make to the cover of Time, Newsweek , or Biz Week for Monday?”
So there you have it, mainstream media sentiment in microcosm. The sentiment couldn't be any more bearish right now. Everyone is talking about recession and more financial turmoil as if it's inevitable. That by itself is an indication that the stock market has already priced in the worst and an interim bottoming process is well underway.
P.S. by Norton: I have been bottom feeding for companies servicing economic infrastructure needs for telecommunication, utility, agriculture industries on the theory that they will be least affected by a recession. Try hard to watch for a bottom and pick a really advantageous price. If it drops then you get it, if not so what.
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