iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,419 Blog Posts

Stocks Off to Worst February Since 2002

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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3 comments

  1. joyous__ending

    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.

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  2. thebigragu

    Fly thanks for the invite on the ark.
    I boarded a few weeks ago.
    Nice work.

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  3. edgar

    the nascrack is still egregiously overpriced imo

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