I am wary of anybody that says 'we are near the bottom now' because we've been hearing that for six months now and the bottom has kept falling. In addition, how can anybody say we are near the bottom now when in the next year we should see large jumps in unemployment, companies going bust like never in our lifetime, projects being shelved en mass, implementation of stricter environmental laws.
And yet the oil price is a historical highs even at $70US. The supply is still tight and the price will likely at least stabilise if not increase as OPEC drops production. The oil price is maintaining pressure on the worlds economies even though the price has halved.
The housing industry in the US is undergoing total failure causing massive unemployment and further financial damage to the banking sector as those workers cannot meet their mortgage obligations.
How can one tell the bottom unless it has already occurred?
NDO Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)