Today, the S&P closed below the November 2008 low (which was 752). Brinker viewed the November low as the bottom and said he thought it would hold. Sadly, it did not.
Today, the S&P closed at 735. It declined 11% in February. This was its worst month since last October. It is now at a 12-year low.
The Dow broke through the 7100 level -- closing at 7063 -- down 11.7% in February. This is its worst month since October, and it is at an 11-year low.
The Nasdaq closed at 1391, having lost 6.7% in February. The QQQQ closed at $27.53. Brinker issued a buy signal on QQQQ in October, 2000 at $83. He never closed the trade and his last advice was to "hold for recovery." That was 8 years ago.
* June 2007: Declared that a secular bear which he said began in March, 2000, had ended in June, 2006.
* Aug 16, 2007 to January 20, 2008: Mid-1400's = "gift-horse buying opportunity."
* January 20, 2008 -- rescinded mid-1400's (recommended dollar-cost-average only)
* Feb 10, 2008 @ 1331: Low-1300's
* Aug 5, 2008 @ 1285: 1240 or less
* Sept 2, 2008 @ 1282: Low-to-mid 1200's
* September 16, 2008 -- rescinded low-to-mid 1200's (recommended dollar cost-average only)
* January 15, 2009 – low-to-mid 800’s
January 2009 Marketimer: "We regard the stock market as attractive for purchase on any weakness in the low-to-mid 800's S&P 500 Index price range, and we continue to regard the S&P 500 Index 750 to 850 price range as the bottom area for the entire bear market. We expect calendar year 2009 to be a significant positive year for the stock market....."
Bluce sent this pictures of his "Watch Cats." No one will get near his motorcycle. 8~)
Even Watch Cats need an occasional nap
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