second wave down since gfc about to start, page-8

craig, I will not offer an opinion as to whether you are right or not but I will make a comment. I remember hearing Terry Laundry talk about the nature of bear markets. Usually early in the bear there is a biggish bear market rally as there are still enough bulls around at that stage who believe the first bear leg was just a biggish correction. We saw this in the May 08 rally. Commodity stocks peaked around then and the market generally had bounced very well after the initial fall.....but May 08 was a lower top to the Oct 07 peak and that was a warning bell. May 08 was a last chance escape opportunity. There were no more subsequent rallies like May 08 for the remainder of the bear. Personally I did not heed the calls of the bears in late 07 but I had caught on by May 08. Thank God, for May 08 as it saved me from the abyss.

anyway, I thought I would offer that comment because you may be right, if not now then eventually and there will always be those of us left holding the bag.....So it's nice to know what to look for if the market does offer a second chance of escape.