I was going to do the work on this one, but wisely I checked Barry Ritholtz first. He’s on top of things today, which is why I supposed he is the man! My chart with a link to his annotated chart, a table and comments below. Long story short, is that many players probably saw today’s abysmal consumer confidence number as a bottom.
Consumer Confidence Plunges to Record Low by Barry Ritholtz
Chart by Bloomberg
Consumer Confidence Plunges to Record Low
Barry Ritholtz, The Big Picture, October 28, 2008