peterb writes: They feel there’s a very good chance we will test the lows from Octobers crash in the next 5 trading days.

They may be right about that! I’m a bit stunned markets dropped over 5% today.

Let’s hope they are also right about the rally to follow.

Today I’m rather worried I missed the top of this Fool’s Rally with my expectation it would go to 1,100 or higher. Maybe 1,000 (S&P500) WAS the top?

Here’s what I DO like about the projection for a 1-3 months rally: we won’t see 4th quarter GDP numbers until early next year. Those numbers will be horrible. I’m implying the economic data may be ONLY moderately bad for a couple months, until it gets MUCH MUCH WORSE about 1 to 3 months from now. Plus we got the credit markets continuing to unfreeze.

I still got my *fingers crossed* this Fool’s Rally resumes soon and continues to carry markets up higher.