February 13, 2009

News from the past: Have we hit the bottom yet?

Filed under: FYI,history,US — DF @ 3:12 am
Tags: , , ,

According to San Jose Mercury News (April  12, 2001): “One of the great ironies of the stock market — and one reason why it’s so hard to time — is that you never know you’ve reached a bottom until it’s well over. No one officially announces, “Ladies and gentlemen, this is it. You may now resume having fun.”

But with the rallies in the Nasdaq index and the Dow Jones average this week and last, it’s worth asking the question: Have we passed the bottom? Was Wednesday of last week the low ebb? Is the worst behind us?

(On April 12, 2001 Dow Jones Industrial Average closed at 10126. It took another year and  half for the market to hit the bottom: on September 27, 2002 Dow Jones closed at 7701 ~

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