Market did well given the news. I expected market will go down by 2 to 3% if job losses come above 250K. We got 265K loss. This is the exact reason, nobody confidently say this is how market will react given the conditions. Based on the different -ve news market should be in -ve territory for short term (1 month).
This bull market started in March. here some thoughts from IBD. Alway remember BLACK SWAN. This is historical data.
And while the indexes have suffered
some distribution days, the
slippageso far hastaken the indexesdownin
the5%-to-6% range.
Historically, the first run-up
after a bear market has gone for
months without a 10% dip in the
Nasdaq.
After the bear markets of 1987,
1990, 1998 and 2000-03, the Nasdaq
rose 22, 16, four and 10
months, respectively, before making
a correction of10%or more.
The current uptrend is near the
seven-monthmark.
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