When do bear markets end?
I have heard many talking heads on TV proclaim that the market finally can go up now. The dow now is at 8150. These same talking heads were also despondent in early March, as they proclaimed that oil would hit $25, and that fair value on the S&P500 was more like 9 times earnings of $50 (or S&P500 =450).
Some say that bear markets end when the market shrugs off bad news (-6.1% GDP for one) and goes up. I say that given what the market has shown us in the last two years: that the market is a merciless heartbreaker, and only cares for us as much as the government does. I would hate to think it is trying to eek higher, and lull everyone back in the water, before it heads down to 750-800 again. I would hate to think that that is exactly what is going on, but I wouldn’t be surprised. No, not at all.