On Tue, 22 Jan 2008, Doug Henwood wrote:
> But in the 21 years I've been doing this stuff I've noticed that when I
> get calls about a financial melodrama it's closer to the end than the
> beginning. Maybe it's different this time.
I've always been a big fan of this indicator. But IIRC, in the past, hasn't this always been about calling a bottom in the stock market? I don't remember it pointing to the trough of a recession or recession-like object.
I seem to remember a couple of times when it was remarkably sharp on the market, though.
Michael