Impossible to know.  Who cares really.  When we have hit intraday lows in the stock market we have been 45% down from the highs of 2007.  There is no doubt there are some major bargains developing.  After a pause of many months, The Limit Order has had 50% cash in our model portfolio since 2007 and is about to start buying back into the stock market.  We will however not go lower than 25% cash until the Bull is confirmed.

P/E ratios are low.  Dividends are high.  In some cases Price/Book and Price/Sales are less than 1.0.  You can even find stocks that have compelling cash/share percentage ratios that I have not seen in my investing lifetime.

But, earnings are unknown because revenues are unknown and layoffs are unpredictable to reduce costs (timing, restructuring costs, etc).

Here is a danger in calling the stock market bottom, you are almost always going to be wrong.  No one can time the market bottom perfectly.  The best you can do is try to get close when stocks are starting to be undervalued, which they are right now.

“I am indeed sticking my neck out right here, right now,” Cramercontinued, “declaring emphatically that I believe the market will notrevisit the panicked lows it hit on July 15. And I think anyone outthere who’s waiting for that low to be breached is in for a bigdisappointment, and [they’re] missing a great deal of upside."

Hmmmm.  That was a pretty early call on Cramer's part with hindsight 20/20.  I cannot blame him for trying to get the public to buy at bargains, but all those who followed his advice are probably sitting on what they think are big losses.  Look at my prediction a month ago:

"My own prediction is that we go sideways from here.  Until companies are done missing analyst targets, we will have no reason to start a bull run.  We could certainly go up though.  As companies continue to cut deeply into costs and layoff significant portions of their workforce, this is unfortunately great for the stock."

I look like an Oracle.  Nope.  Just luck, and has not been long enough.

So this is the 2-minute warning to all those following the portfolio.  It is time to start buying again....days to weeks away.  Get ready to start checking the website everyday again! 

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