Market Bottom
We knew that the most important consideration of a market bottom was panic; the final step in a downtrend is that investors panic and throw in the towel. They want to abandon the stock market without any consideration of the value of their portfolios.
The classic expression is, just get me out, I don’t care about the price, I gotta make the pain stop.
That’s exactly right.
Paul Desmond, president of Lowry’s Reports, is known as a “technician’s technician.” In 2002 he won the Charles H. Dow Award for excellence in the field of technical analysis for his studies on how market bottoms are formed.
PS it's difficult to find them but sometimes you feel everybody trows the towel, that is the mark of a bottom.
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