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768.67 – Coming Soon to a Screen Near You

… a screen about 18 inches in front of your face that is. 768.67 was the S&P 500 intra-day low on October 10, 2002. That was the day that the last bear market ended.

The recession of 2001-2002 was also in the process of ending at that time. That recession was a walk in the park compared to the monster that we have now. And I don’t think that we are more than halfway to the bottom of this recession.

So how can the market bottom here? Answer: it can’t. The market is going to be hit by wave after wave of bad news for months to come.

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This entry was posted on Wednesday, October 15th, 2008 at 10:56 pm and is filed under Investing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

3 Responses to “768.67 – Coming Soon to a Screen Near You”

  1. Larry says:
    October 15, 2008 at 11:20 pm

    Yes Matt, and you can keep that title on your blog.

  2. George says:
    October 16, 2008 at 7:50 am

    Thanks for the outlook. I hadn’t thought about severity = depth. The gift that keeps on digging.

  3. UYG short term bounce next week? - InvestingFreak.com says:
    February 20, 2009 at 7:22 pm

    [...] 768.67 – Coming Soon to a Screen Near You  … a screen about 18 inches in front of your face that is. 768.67 was the S&P 500 intra-day low on October 10, 2002. That was the day that the last bear market ended. [...]