Our friends at Minyanville have put out a stat that is worth keeping in the noggin. The 1929-1930 bear market rally lasted 146 days and was up 46%. We are at 145 days and the same 46% rally. The market in 1930 went on to lose 85% from there which would take us to 150 SPX. I'm still thinking we get 1010 spx or 1080 degrees up from the low that marks a top.
"History does not repeat it rhymes"
Mark Twain
Thursday, July 30, 2009
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