Shortest Bear Market In History!
Posted on Thursday, July 3rd, 2008 | In Current Market News
Contributed by: Roger Nusbaum (http://randomroger.blogspot.com) -
New York City- Wall Street traders and strategists alike are breathing a huge sigh of relief now that the bear market of 2008 is now over.
Investors may recall that the market officially closed in bear market territory on July 2.
The turn around in Thursdays holiday shortened trade signals that the bear is now officially over.
Said one trader reached on Thursday “I’ve never seen so much excitement at any point in my 13 months in the business.”
A spokesman for another firm said his company plans to reinstate their original year end S&P 500 target of 1660, a 30% gain from here. The spokesman noted that 30% is a normal bounce off of a bear market bottom.
Ahem. AHEM.
Last 5 posts by Roger Nusbaum
- The Big Picture for the Week of November 15, 2009 - November 14th, 2009
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 About Roger Nusbaum (http://randomroger.blogspot.com)
Roger Nusbaum is a portfolio manager with Your Source Financial of Phoenix, and the author of Random Roger's Big Picture Blog, which has been profiled in several top business publications, including Barron's and Forbes. Nusbaum has also been a financial consultant with Morgan Stanley, an investment counselor with Fisher Investments and an institutional equities and options trader with Charles Schwab. He holds a bachelor's degree in economics from San Diego State University |
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