More Doom and Gloom

I know everyone is a bit burnt out on miserable stock numbers, but sometimes the medicine is painful:

In February the DOW had its worst month ever percentage-wise.  From the Wall Street Journal:

The Dow Jones Industrial Average dropped 119.15 points, or 1.7%, to end at 7062.93. The blue-chip benchmark ended down 937.93 points, or 11.72% on the month — the worst percentage drop for February since 1933, when it fell 15.62%. The Dow industrials have fallen six months in a row and are now more than 50% off their record highs hit in October of 2007.

Ok lets not get all Chicken little here.  It wasn’t really the worst month ever, but it was the worst February ever.

Lets have a little more fun and take a look at the DOW chart for the last year:

chrt-renovation-mod55img

That looks a little bit like a black diamond ski run at Tahoe.  Ok, now lets look at the 5yr chart:

chrt-renovation-mod51img

It looks like a nice steady rise from 2004 to 2008 and then some just pulled the carpet out.

So this means the bottom has to be close…right?  Right?  Of course, we passed many comentators bottom’s months ago.  At this rate it looks like we’ll dip into the 6,000s this week, but the question is: can it possible go much lower?  And: can we possibly have any more fun?

About Zachary H

I'm an attorney, writer, entrepreneur, and adventure
This entry was posted in Commentary, economy and tagged , , . Bookmark the permalink.

1 Response to More Doom and Gloom

  1. Pingback: March 2nd, 2009 « Abraxas Arts

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s