Thursday, January 1, 2009

Happy New Year! Results For 2008!

Another year in the books! 2008 is going to be one of those years we all look back and think about how much has really happened; from the stock market, politics, sports, world events, etc. I think everyone has high expectations for 2009 (including myself) but we will all have to just wait and see how much deeper this recession could get. In the mean time, here are the 2008 market returns...

Dow Jones Industrial Average Down 32%
S&P 500 Index Down 37% (ouch)
NASDAQ 100 Index Down 40%
With numbers like these its almost hard to believe that things could get worse during 2009, yet we must all remain alert and listen to the charts. If there is one thing I have learned from technical analysis and trading all these years is that prices can go down much further than you ever expected (and likewise can go much higher than you ever expected in bull markets). I hope everyone has already laid out their 2009 trading goals!