Posted by: Howard Silverblatt on January 11, 2008
With today’s S&P 500 preliminary decline of 1.36%, the year-to-date loss is 4.59%, or the fourth worst start to any year in S&P 500 history. Volatility, uncertainty and events have changed quickly. Over the next four weeks more earnings will be announced, more indicators from companies will be issued on how their customers are doing, as well as how they plan to react to them, and presidential politics will heat up, as if it’s not enough now. The President will make the State of the Union address on the night of January 28 (Monday), which is expected to include a $100 billion stimulus packaged, followed by the FOMC meeting on the next two days (Tuesday and Wednesday), with the employment / unemployment numbers coming out Friday morning. Then we can all go home and rest up for Super Bowl Sunday on February 3, followed by Primary Super Tuesday (February 5), and of course the markets reallocation the next day (Wednesday) based on the instant interpretation of the primaries; and don’t forget to check those foreign markets before you go to sleep or work the next morning. There are two guarantees here - things will look totally different, even if they are the same, and the best investment may be in aspirins and a neck brace.
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