Nifty Free Fall.....look out for bargain deals...

Its actually quite interesting to witness a bear market in its full form. For people like me who have been into equities now for around 5 years, this is the first touch with a good bear market...What actually I am more interested in is how this bear market will end. It reminds me of a beautiful article by Ramesh Damani, wherein he clearly says

"The primary markets would be bone dry, you will see a fall because now the
public is dumping bluechips. So while there is no art-form to decide between the
second and third phase, generally the more the desperation in the market, the
more people there will be who say I am never going to come back in the stock
market. Generally, it's a good time to start thinking about stocks again when
the public gets fearful, you want to be greedy in terms of buying stock. "

I dont think that this position is reached just yet. People still think that money can be made in the stock markets. . though I think that point is not too far away... Now with NASDAQ down 7% tonight, and US baill out package not getting cleared, our markets would definitely react with a 5-10% drop tomorrow. So when is this going to stop...well as I had said in my post of yesterday if we break below 12800, then there is a chance that we would see lower bottoms. So it cannot be a case of double bottom reversal. It looks like a case of lower tops and lower bottoms, which basically means the bear market continues...