has asx bottomed

Call me crazy, but I'm calling the bottom now at 4600 for the all ords. I think Tuesday to Thursday was our 'capitulation', massive volume well over 1 billion each day with Thurday over two billion.

with naked shorting now banned on the asx, and financial stocks shorting banned in the USA and UK, plus the US 'rescue package' I think trust will very slowly creep back into the international financial system (with a few bad news bumps on the way) and open up some liquidity and funding options for businesses.

It will likely be slow and probably sideways for a few months, but I'll put my head on the block and say we wont go under 4575 again.

This is a call to stimulate discussion, not an intentional bold statement as such...