- Yesterday was a follow-through day on the DOW and Nasdaq. Saddle up!
- Gary Kaltbaum gives a buy signal. "I bought into the market today for the first time in eons," Gary Kaltbaum of Kaltbaum & Associates, who had been in all cash, wrote in a note to clients.
- Kaltbaum's radio show for 10/16. Thinks it's just a bear market rally, maybe lasting up to 8 weeks. Sentiment is the worst he's ever seen, gloom and doom, nothing but bad news in the headlines, follow-through day on the DOW and Nasdaq, etc. Listen to the first 10 minutes for his reasons. Later in the show he says that he thinks it's probably just a bear market rally.
- Warren Buffett: I'm buying stocks. "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful," said Buffett. "And most certainly, fear is now widespread, gripping even seasoned investors."
