Sunday, March 16, 2008

Back to 2003

Karl Denninger thinks we're on course to lose all the gains of the last 5 years:

I am updating expectations for this Bear Market; I no longer believe 1070 on the SPX will hold, and have now moved to the camp that sees the potential for the S&P to retrace all of the 2003-2007 Bull Market's gains, taking us back to around 800 on the SPX.

In the UK, the FTSE closed at 3,287.00 on 12 March 2003.

1 comment:

  1. Wolfie24 March 2008 at 13:51

    That is certain, the only question is over what timespan exactly? If I could predict that I'd be responding to this post from my own private Island now.

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