A near term bottom is near. I don't need to post a chart to illustrate because you know already what it looks like.
March historically has marked tops and bottoms alike.
Technicals are not showing capitulation or fear based selling yet. There is a chance we may not get capitulation here. I think we bottom this week (near term) whether we get fear based selling or not.
I think option calls as far out as Sept 2009 and January 2010 look extraordinary...especially in financials.
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The bottom has happened.
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