Posted by: Howard Silverblatt on August 24, 2009
If we hit the bottom on 3/9/09, the 51.68% gain more than doubles the historical average gain for a Bull market for that same period. But given the historical average Bull market lasts over 1700 days (actual, not trading), and that we have ‘developed’ into a market of instant movement and little patience, perhaps we haven’t moved as far as it appears; perhaps the time periods have just changed.
The breadth (489 issues up) and gain (52%) over the short period (from March 9th) is a result of the breadth and loss over the prior 17 months (from 10/9/07, down 57% at one point and now down 33%), given a more optimistic outlook and a desire for a quicker solution. Very soon we also know if that outlook is true and if so, were we traveling at the right speed.