When The Pope Gets Into the Market Free-For-All, We're Near A Bottom and It's Almost Time To....

BUY! BUY! BUY!

I don't fault the Pope one bit for getting some licks in today on this massive global market correction. Don't blame him for striking while the iron is very hot. Things are indeed serious and without doubt he's speaking ultimate and undeniable Truth that we all need to heed in the depths of our souls:

Pope Benedict opened a Synod of Bishops today at the Vatican saying that the global credit crisis shows that the world's financial systems are "built on sand" and that only the works of God have "solid reality." He referred to a passage from St Matthew's Gospel on false prophets, saying ''He who builds only on visible and tangible things like success, career and money builds the house of his life on sand."

Truer words were never spoken by a wise and no doubt holy man. But in the parlance called market timing, The Pope's pronouncement is what we students of the markets call a lagging indicator.

To wit,

When a Pope, the Pope, THE POPE starts making truth statements like this on down days of massive fear like today, one thing's for sure:

We're getting near the bottom of this decline and closer to the time a few courageous investors will move in and do a some bottom feeding. To use the words of Jim Cramer in more sanguine days, it's getting close to the time to Buy! Buy! Buy! Now of course, Cramer is saying sell, sell, sell. Come to think of it, he sounds like a lagging indicator too.

So if you buy when the market starts to turn soon (and it could be a day, a week or a month), please do remember the Greater Truth in Pope Benedict's message. In addition, the timing of his missive may point to an impeccable truth with a small 't'. Like when Jim Cramer says to sell, you can bet the very smart money will do the opposite and soon come swooping in to start buying again as the masses cower on the sidelines.

It's not just what people say that counts. It's when they say it.

The Pope and Cramer both on the same day! What a combo indicator that we're nearing a bottom. When that happens you'll see it on the big boards.