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Tuesday, July 8, 2008

Did the S&P Finally Hit Bottom at Exactly 20%?

No doubt Bob Brinker, and everyone who invests in the stock market, breathed a sigh of relief today. Let's hope the rally continues. I'd rather listen to Brinker bashing the bad news bears next weekend than hear him try to spin 1/100th of one percent -- which equals what, a few cents? 8~)

Kirk Lindstrom posted on his Bob Brinker Facebook Forum:
If the market goes up from here, does anyone want to bet that Bob Brinker will say the S&P500 "only" went down 19.99%, not 20%? (IF he talks about the size of the decline at all.....)

Nice rally today on the positive statements about the banking industry.
Correction Statistics for 07/08/08

S&P 500 Data using Closing Prices
Date of last high: 10/09/07
Last Market High: 1,565.15
Date of last low: 07/07/08
Correction Low: 1,252.29
Decline in Points: 312.86
Decline in %: 20.0%

S&P 500 Chart (Using Intraday prices):
Last Market High 10/11/07 at 1,576.09
Last Market low 07/07/08 at 1,240.68
Current S&P500 Price 1,273.70
Decline in Pts 302.39
Decline in % 19.2%
Max Decline 21.3%
=>This means the correction from intraday high to intraday low is 21.3% and we are currently 19.2% off the peak.
=>The decline in the S&P500 from the closing high to the closing low was 20.0%


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