Part of finding a bottom 'is the thrashing around and getting everyone discouraged and making them think that we'll never have another bull market again'
Where's the bottom? Markets are now reaching notably oversold conditions, but what does that mean? I spoke with veteran market watcher Tom McClellan, editor of the McClellan Market Report. The following has been edited for style and clarity. Everyone keeps saying we are oversold. Is that true, and what does that tell us? We are oversold. But oversold is a condition, not a signal. Nothing about that condition tells you when the condition will matter.
Yes but this weakness always happens in September. Why is there seasonal weakness in the first place? It's a psychological thing. People feel the shrinking hours of daylight, and that causes us psychologically to pull in and want to be more conservative and get out of risky investments, sell things, and that happens time after time.
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