There does seem to be a lot of bottom picking going on so it's...

There does seem to be a lot of bottom picking going on so it's probably a good time for me to offer my contrarian indicator post...

I will also be sorely tempted to open a couple of longs on Monday but probably only short term. If this is the low then where is the rally going to come from? Are banks going to rally hard? Not imo... Simarly even though I'd rather see BHP at 24 than 48 it pays a lousy dividend and needs to go lower imuo. WOW is looking pricy at the moment and WES hasn't plumbed the depths yet. I've seen a lot of targets offered at the index 50% decline levels (depending on which 'high' is used) which make a bit of sense but I don't see 50% as worst case scenario... The SP500 is a good example of buying opps at 50% but there's also other declines out there going far below the 50% mark so given the financial similarities between now and 1929 I won't be surprised to see 50% marks fail. I'm actually a a fan of 100% retracements and for that reason liked Robbbs chart on this thread. Is the outlook any better today than it was at the start of the last 5 year bull???