Be Careful What You Wish For.
In a reply to someone's blog over the weekend I wished that the market would just lose 1000 points already so we finally hit the damn bottom. Well I almost got my wish today to my chagrin. I have been arguing 10k is the bottom with 9k the panic. We saw it head to 9k then bounce back to 10k. I would like to think we bottomed but the lack of strong negative volume still has me concerned.
What I want now is apathy. As a proponent of the dividend, this plays into the thesis nicely. I did buy heavy today because everyone else was selling. Did this in 1987 too. I have cash for one more round of declines and then I sit and wait out the years. Either my dividend thesis works or I am working until 75.
As an aside the BDI did another partial small rise today. Also other countries are lowering their interest rates. They finally are seeing that recession trumps inflation.