I have to agree with this post from BeSpoke… it has been a bad week and appears that it will just get worse… Stupid Congress couldn’t agree on the color white… Stupid people thinking that the “super-committee” would get anything done… Stupid Euro group for doing the same thing we did… hell they could see it didn’t work for us… Stupid me for thinking I would every get to retire… What next? looks like I still need to buy that “STUPID” t-shirt and wear it often… WD0AJG
A Real Turkey of a Week
from BeSpoke Investment by Bespoke
In what is traditionally one of the stronger weeks of the year for equities, this year the S&P 500 is down every day this week. Going back to 1941, when Thanksgiving was officially designated the fourth Thursday of November, 2011 will go down as the eighth year where the S&P 500 was down all three days of the week leading up to Thanksgiving. The last time this occurred was back in 1994, and before that you have to go all the way back to 1964!
Based on the experience of the prior years, the average return on Black Friday was a decline of 0.07%. Looking out at the rest of the year, in those prior seven years the S&P 500 averaged a return of 2.68% with negative returns only once. This year, though, with all the problems going on in Europe, bulls are beginning wonder if its even too much for Santa to handle.
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