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Bouncing
Back
Brian
Trumbore
President/Editor, StocksandNews.com
So, I'm sure all of you were smart
enough to buy stocks last October 9. Unfortunately,
I wasn't. Something about a war to worry about back
then, weapons of mass destruction, and all that stuff.
But if you threw caution to the wind you have been
richly rewarded.
10/9/2002
Dow
Jones?.7286
S&P 500??..776
Nasdaq??..1114
Russell 2000?327
10/9/2003
Dow
Jones?.9680
S&P 500??1038
Nasdaq??...1911
Russell 2000?521
Investor
Sentiment: Bull / Bear ratio
10/9/02
Bulls:
31.0
Bears: 39.1*
10/9/03
Bulls:
55.9
Bears: 22.5
*One
week later the bull / bear reading was 28.4 / 43.2,
the lowest for bulls in the cycle, as well as the
highest figure for bears. As a contrarian indicator
it worked perfectly back then.
This
year, the radio peaked on 6/20/03, 60.2 bulls / 16.1
bears. The Dow Jones closed that week at 9200.
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The
equity markets hit the lows of 10/9/02 on a Wednesday,
but just two days later finished the week with a roar.
10/11/02
Dow
Jones?7850
S&P 500??835
Nasdaq??.1210
Interestingly,
a big reason given for the rally after hitting the
bottom on 10/9 was Yahoo's positive earnings report
and the stock rallied to $13. This week, Yahoo exceeded
expectations again, fueling a further rally in the
Internet sector as well as Nasdaq overall, with Yahoo
shares finishing up 10/9/03 at $43.
Gold
/ Oil
10/9/02
Gold?$319
Oil?..$29.35
10/9/03
Gold?$369
Oil?...$31.01
10-year
U.S. Treasury
10/9/02?3.78%*
10/9/03?4.31%
*10/11/02
close.
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Wall
Street History will return 10/24.
Brian
Trumbore
BUYandHOLD
does not recommend any securities. The securities
mentioned above are being used for informational purposes
only and should not be regarded as an offer to sell
or as a solicitation of an offer to buy.
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