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Though it has lasted a couple months longer than I thought, I think we are nearing the end of this recession. The next week or two will be pretty volatile, and will continue to drift negative until the Dow reaches the mid 10000 (another negative 6-8%). We'll hopefully have the begininnings of a sustainable recovery after that. Tomorrow will probably be heavy trading and volatile, since the foreign markets are doing pretty badly, though I actually think Friday's close will be slightly positive (I could be very wrong).

There are a large number of companies out there that are pretty undervalued right now. Some well established companies have very low P/E's and high EPS compared to their historical values, and a lot have continued to grow at a reasonably reduced rate. Good time to be a value investor. I could be wrong about the bottom, but I'm pretty sure we will end up showing a positive in the market by the end of the 3rd quarter, and the end of the year will be very good.