Voltaire,Thanks for your kind words. You comments about VIX/VXO...

Voltaire,

Thanks for your kind words. You comments about VIX/VXO I think tell the story right there - we at the least have a short term bottom. And IMO as we have capitulated down one channel to this level this will therefore be the bottom of this bear market.

As for not posting in recent times, its probably just to avoid distraction as I tend to be pre-occupied with intraday trading mostly in this bear market. Anyway, on this occasion I did feel the need to post my strong feeling that we have bottomed.

fone geeks - yep get your drift completely. Have a look at the Warren Buffett thread though - there's a paragraph there about timing market bottoms vs economy bottoms. I've got no problems though if people are worried about skeletons and want to wait.

TTCelica - IMO, the key here is today's end of week low is (slightly) higher than last week. IMO its much much easier to see channels and targets working off monthly and then weekly charts. With daily charts IMO you get too much noise and miss the big picture.
For example, today's action appears terrible on a daily chart, however on a weekly chart we now have BHP and WPL closing the week at key support levels/targets - and therefore ready to rally hard from here - I always considered that we would not have a bottom until BHP hit $24 - we now have this ($24.40 is close enough). Plus we have ended the week with a weekly low (slightly) higher than last week - this is IMO very significant.