Its time to get realistic. The stock market will test the 775 S&P 500 2002 lows and likewise the the Dow lows of something close to 7100. Get ready for it because it is going to happen and most likely sooner than later.  After that we can talk again about bottoms and about reasons to get long not only the stock market but other commodity markets. My guess is that the soft commodities are about bottomed out along with crude oil which could touch $50 first. The dollar is blugeoning the world right now, getting revenge for all
that dollar negativeness that went on for years. As the banks mark down the dollar assets, they must buy dollars to maintain their reserve requirements simultaneously taking losses. Funny how things change. These are crushing blows to currencies around the world (except the Yen of course).  The overshoot on the downside that everyone is claiming in the media right now
is a myth. We have not overshot anything. The big hammer is body-bagging everyone who stands in its way and we will see a bottom WHEN the US authorities begin to do something to stem plumetting home prices. I expect to see more on that soon as it is commonly discussed now that very little direct intervention into home prices has really ocurred. If it does not happen then we will see round three and four of massive foreclosures, tumbling mortgage securities prices and many
more bankruptcies.  The final bubble in the US treasury market will burst at a much later date once the dollar hammer has crushed everyone and things begin to improve across the world. Then investors will start to evaluate treasuries again
and whether some unanticipated future inflation has been created. Not something to worry about right now when the world is in the death spiral.