I think we are at or very near the bottom for the following reasons:
1. The TO of Merryl by Bank of America will stabilise the markets.
2. AIG will be saved because it is a 5 times worse scenario than losing Lehman.
3. Lehman gone...unfortunate but where there are winners there must also be losers.
4. VIX (volatility Index) gone up 23% to 31.70 and some experts were suggesting that we needed to see the VIX at above 30 to confirm a final capitulation and / or bottom for the markets.
5. People will soon realise that the markets have gone too far and that many stocks SP have gone too low.
OZL Price at posting:
$14.45 Sentiment: LT Buy Disclosure: Held
