Market bottoms? Are market bottoms made at 10% discounts to market tops? Because that’s where we are now. 10% lower than the S&P’s peak for the year. The market may go up nicely from here, but it’s more of a hiccup than a “bottom.” You make it like the market is pricing in enormous amounts of pessimism. Being 10% of the peak is not exactly pricing in enormous amounts of pessimism…