If you need more Reasons
If you want to be a Macro Value Investor here are a few items of possible interest:
1) In gold adjusted dollar terms the stock market has dropped around 75 percent from June 2001, that doesn’t mean the market cannot go lower, but 75 percent is 75 percent.
2) The Nasddaq 100 is starting to gain on the Dow.
3) Most home building stocks have not taken out their early summer lows.
4) Look at the relative relationship of the Worst Stock versus the Best Stock (based on stock evaluations by a well known newsletter writer, we basically don’t watch individual stocks) ie. Colgate Palmolive versus Dell the past few days. Somebody is getting out of the safe stocks and buying the garbage stocks.
5) No one will know when the low is in for this move until well after the fact.
6) And most importantly, short selling and Fed Fund rates have been vastly over-rated as causes of the market meltdown,
12:06 PM CDT