Jim said: “I heard your comment about booms and I agree with you, booms lead to busts. And I know that the S&P is up 20% or so. But from the bottom in early March, the S&P is up 60%. It’s the fastest gain that I’ve ever seen. I’m 60 years old, I’ve never seen anything like it. And I’m getting concerned that we are getting to a boom period with the market and just wanted your opinion on what if this thing continues? At some point, aren’t we getting to a technical scary place?”
Brinker sarcastically replied: “Well, obviously we are for you, Jim. But speaking for myself, I think the market overshot on the downside. I thought the market could make a stand in the mid-700’s. Matter of fact, back at the time, I wrote that. I thought the market could make a stand in the . Went a little bit lower for a short time and snapped right back. I think that was an overshooting on the downside, as temporary as it was. And so for that reason, I don’t share your pessimism, but I do appreciate your call on Moneytalk."
Frankj wrote:January 4, 2008: Buy in the mid-1400's. , 2008: Buy S&P 500 in the low-1300's.
"At the end of the 2nd hour, BB had a quite reasonable question (paraphrasing) "Hasn't the market come too far, too fast since March?"
BB was saved by the end of the hour. All he had time to do was insult the caller, and criticize the market for daring to go lower in March than he thought it should have.
No comment from BB when his Sunday guest criticized gold as an investment. If BB suspects that his radio audience thinks his guest is smarter than he is, he keeps mum." [LINK]
"Congrats now honey that you are second on the list when you search for BOB
bob spinning agian today about the s&P hitting 600. He thought it was overshot going down. It should have hold at 700. LOL" Pete from FB [LINK]
August 5, 2008: Buy S&P 500 at 1240 or less. , 2008: Buy S&P 500 in low-to-mid 1200's , 2008: Prior buy signal rescinded, recommended
January 15, 2009: Buy S&P 500 low-to-mid 800's
March 5, 2009 Marketimer: (Waiting for retest of the lows -- S&P @ 696.33) said: “Due to the fact that the November 20, 2008 closing low failed to hold during the testing process, we believe a new bottoming process will be necessary for a sustainable market advance, we need to see a sequence of events consisting of (a) the establishment of an initial closing low; (b) a short-term rally; (c) a test of the area of the initial closing low on reduced selling pressure."
Chart courtesy of Kirk Lindstrom [LINK].
Dixiegeezer took this picture of a VA Cemetary near St. Petersburg, Florida: