No it does not.

We didn't just "retest" the lows, we broke through them and continued down. The support level at Dow 7300 from 12 years ago was shattered now that we're down to 6700 on the Dow. Same with the S&P, except we broke the "psychologically important" 700 level on the S&P.

I can't speak as to whether the huge negative sentiment is part of the bottom building process, just that ENORMOUS technical damage has been done to the charts in the last week. Wouldn't be at all surprised to see a significant continued drop before any kind of bottoming formation.

Yikes...

Carl

Carl,

From a technical perspective, I absolutely agree with you. With the exception of the depression, most recessions cost the indexes around 40-60% of their peak values. We are at the 60% mark right now. I am more gaging the extreme negative sentiment that typically pervades market bottoms. It seems we are here. However, this is unlike most other recessions in that the financial markets that normally allow the big recoveries to occur are the cause for this. Time will tell how far we fall.

I'm going for Dow around 4500 and S&P around 600.

Also, for those newbies at DAL who don't have alot in their DC plans and 401K plans here is something to watch out for. The new Financial Engines stuff we are being offered will sell your equity distribution over the next 4 months if you are enrolled in the program where they manage your money. They won't allow the amount of company stock to be above 20%. It will be about at around 60% for those of us who didn't get lost retirement payouts. If you enrolled in this and don't want them to sell your equity shares, you must call them and un-enroll or they will start dumping the stock within 30-days.

I will not pay the percentage they want us to pay.

Would it be wise not to go with Financial Engines?
...

I think 2011 will be a mild economic recovery, probably the later part of 2010. The problem is if inflation kicks in then but hopefully we're all that much more senior by then and we haven't shed a plane.

Somebody posted this segment of an aviation week article elsewhere, thought I'd post it here.

Mar 04 , 2009

Delta appears to have renounced its position as the North American launch customer for Boeing’s 787-8 widebody, according to the carrier’s latest regulatory filing with the U.S. Securities and Exchange Commission.

The Atlanta-based carrier, which inherited a firm order for 18 787-8s when it acquired Northwest Airlines, has dropped the firm orders from its latest report, which was filed late March 2. Instead, the airline in a footnote said the 18 aircraft have been excluded from its firm order obligations because “[t]he Boeing Company has informed us that Boeing will be unable to meet the contractual delivery schedule for these aircraft.”

Delta has been expected to revise, if not cancel, its 787 order since the carrier was favoring Boeing’s 777 over the all-new widebody. This expectation was heightened in December when the airline’s Executive VP for Revenue Planning and Network Management during Delta’s investor day conference said the airline’s 777s could be the 747-400 replacement which Northwest had intended when the Eagan, Minn.-based carrier first ordered the 787s.

Anybody know if we can get 777s instead, you know...@ a cheap price? There has to be some sort of penalty for Boeing not delivering as promised. I realize some of the delay was due to the strike, but that only accounts for a small portion of the overall delay.

Maybe they'll give us a premium spot on the 748 to replace our spots on the 787. ;)

A LCP was telling me at the meeting that it was explained Delta still has the right (via the now gentlemans agreement to buy Boeing only) to go in and pick airplanes off the assembly line out of order, anotherwords take someones spot in a given time like maybe 12 months. Now, I don't know if thats true, I'm just regurgitating stuff I hear.

Gentlemen's agreement to buy Boeing only? Can you elaborate on this because this is completely opposite of what was briefed back in January.

-Fatty