No Way You're Getting Me Back in This Market
Posted Apr 08, 2009 11:34am EDT by Henry Blodget
After the biggest 4-week bull market since 1933, stocks have taken a pause. But the debate is still raging:
Was that it? The bottom? The end of the second-worst bear market ever? Should you get in now while you still can? Or is this just yet another in a long string of sucker's rallies that will draw you in and then vaporize whatever capital you have left?
Some observers are on the fence. Fortunately for us, TechTicker host Aaron Task isn't. He's not tempted to jump back in, because he's sure this is a sucker's rally. And he's not just saying that because that's what yesterday's guest, George Soros thinks. (Though Soros's endorsement doesn't hurt.)
--We still haven't dealt with the bank problem
--Q1 earnings are going to be horrific
--Investors are still too positive--salivating at the thought of calling the bottom and jumping back in.
--Aaron thinks that when this bear market finally bottoms, only whack-jobs will be interested in buying stocks ever again. I hope he's wrong, but I suspect that he isn't.