When will the stock markets bottom?

Right now all the market averages are down substantially. It has had a little rally to get back to the starting line and erased earlier losses only to bounce off of it and head back down. Here are the current numbers as I blog:

Dow	8,270.71	-308.48	(-3.60%)
Nasdaq	1,601.67	-43.45	(-2.64%)
S&P 500	874.57	-35.35	(-3.88%)

The S&P 500 has broken the 900 floor and the Nasdaq is dancing on top of the 1600 floor. The Dow is still a few hundred points off from the 8,000 floor. The challenging part will be the last hour of the day. We have had major sell offs in that last hour or sometimes in the last half hour.

The TV networks say it is the big institutes that manage mutual funds cashing in because of the mass redemption out of equity funds. I don’t expect today to be any different unless the government makes some kind of announcement. I think they are running out of ideas and maybe even discouraged since the previous ones have not worked.