The good bad news is the NASDAQ is down more than 7.5% for the month of February, just one week into it. The good news is the last time the market fell like this, in 2002, the NASDAQ rose by 6.7% in March.
However, I do bring moar news of the medieval varietal. Back in February of 2002, the NASDAQIRI fell by 12.2% or 4.6% more than the losses we have– month to date.
The egregiously worse news was in February of 2001, the NASDAQ dropped by a heart-shattering 26%, only to drop by another 17% in March.
Just a little background on those two cumulative months of complete fuckery. I remember those two months very vividly, as they were a morbidly comical part of my life, where my broker friends and I would run about Manhattan, drinking booze and lamenting over the end of the stock market. You must imagine the sheer tragedy of it all: losing 26% in one month is bad enough. But losing another 17% on top of it felt like something out of a science fiction book–twilight zone shit.
In April of 2001, stocks rose by 17.8%. In 2002, it fell 12%+.
Either way you slice it, historically, we’re completely fucked.
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I was hoping for some political clarity to help us out.
Gonna stick with the stocks I have for long run (12 months+)
Oversold rallies have been weak..weak..almost untradeable
Still have good cash on hand, would not be surprised if we have to wait for October/November to get a good feel to jump back in.
Fly thanks for the invite on the ark.
I boarded a few weeks ago.
Nice work.
the nascrack is still egregiously overpriced imo