Stock Market Downfall : Are we Really Close to Bottom?

CIBC World Markets is telling us that we might be close to the stock market bottom although not all the factors are in place for a recovery. I'd like to believe them, but I still don't have a good feeling about this financial crisis. Are we done with the deleveraging? What about the huge deficit the US is accumulating? Are European economies really strong? Will demand for Canadian commodities really go up soon? What if demand for Chinese products really tank?

You see my point :-)