Barry Ritholtz, one of those guys who’s been right a lot over the past couple years about the market, is sniffing a market bottom. He’s just put up a post listing 10 “charts, signals, indicators” that, as he puts it, “suggest to us that we are increasingly close to a bottom that can be purchased for an upside trade of 20-30% from these levels.”
I’ve never been much of a technical-indicator believer myself, but when it’s Barry saying it, I listen–partly because he tempers his technical stuff with a lot of fundamental research and actual, you know, thinking. Also, one indicator of his I definitely believe in, the magazine cover indicator, is flashing “buy.”
Update: Barbara points out that a lot of people are calling a bottom–on CNBC, in phone conversations she’s having, etc. Which I guess means it can’t really be a bottom, right?