And isn't it about time for another panicked Bernanke rate cut?
A stock market bottom is a trend reversal that marks the end of a market downturn and the beginning of an upward moving trend. A "bottom" may occur because of the presence of a cycle, or because of panic selling as a reaction to an adverse financial development.
It is easy to identify a bottom in hindsight but very difficult to identify a bottom (referred to by investors as "bottom picking") while it is occurring. This is because the upturn following a decline is often shortlived and results in a continued price decline and hence a loss of capital for the investor who purchased stock(s) during a misperceived or "fake" market bottom.