Where Is the Bottom?
Analysts seem to agree that this massive stock sell-off we're experiencing was a necessary purge, or "flush" in a system corrupted by sharp dealing and denial.
But where will it end?
Just a year ago, people were swapping tips on best to grow your nest egg, or which stocks were the hottest.
Now, they're talking about a chilling phrase: "capital preservation." That means holding on to what you have left.
Traders on CBNC right now, who look battle-weary, are predicting -- more hoping, it seems -- that the Dow's bottom will be around 8,000. Which gives the Dow 579.19 points to drop today.
Regardless, expect a big sell-off at the opening bell, which comes in a few moments.
-- Frank Ahrens
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Posted by: IV | October 10, 2008 9:33 AM
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