In the March 2008 Marketimer, Page 3; Paragraph 3; Bob Brinker said: "This gives the S&P 500 Index the potential to trade into the 1600's range as we move closer to the time when investors will discount the 2009 earnings recovery."
Over the remainder of 2008, Brinker declared several market bottoms and "attractive for purchase" all-in buy-levels. Brinker ended 2008 still fully invested, and looking for ANOTHER new market bottom.
In January and February 2009, Brinker seemed quite sure that the market was bottoming in the 750 to 850 range, and he declared the low-to-mid 800's "attractive for purchase."
The S&P 500 bottomed out (as of now) on March 9th at 677....
As of March 5, 2009, Bob Brinker once again said he was looking for a new stock market bottom and was waiting for a "sequence of events" to take place. Without officially saying so in his March newsletter, he simply dropped the low-to-mid 800's buy-level and for the first time in years, did not recommend dollar-cost-averaging.
However please note that last Saturday, Brinker told a 32 year-old caller that "at his age," he had no problem with dollar-cost-averaging into the Total Stock Market Index -- Brinker recommends the Vanguard Fund. [Read what Brinker said to the caller in my Summary at this LINK.]
Now what has the market done over the past couple of weeks?
The stock market has had a sizable rally-- up 6 out of the last 9 sessions. And in spite of Friday's decline, the Dow, S&P and Nasdaq indexes were all up for the week -- they had their best 2-week gains since 1974. As usual over the past few months, oil traded in tandem with the stock market -- it closed up about 10% this week.
Thanks to Kirk Lindstrom for this chart [LINK]:
Dixiegeezer sent these beautiful pictures that he took near Mt. Rainier:
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