US stocks gained 8.9% in September (best September result in 71 years) and 11.3% for the quarter (5th best quarter of the last 10 years.) As stocks rise, our clients are actually becoming more fearful.
Read MoreWhat to make of the last three months? Stocks hit a peak for the year on April 23rd with a YTD gain of 9.8%. Over the next 10 weeks, stocks fell 15.6%.
Read MoreUS stocks lost 8.0% in the month of May, and dropped 1.5% on the year. European markets are down 0.2-8.4% YTD, and Asian and South American markets are down 1.4-11.2% on the year.
Read MoreTwo weeks ago, we wrote, "with US stocks up an incredible 79.5% from the March 9th, 2009 low, a pause or even a pullback is to be expected. Our forecast for the S&P 500 for all of 2010 is only 8%, so reason enough to be cautious 4 ½ months into the year."
Read MoreThe S&P 500 is up 8.5% YTD and matching the level last seen September 15th, 2008, the date that Lehman Brother filed for bankruptcy.
Read MoreThe S&P 500 rallied 73.2% from the March 9th, 2008 low through the recent peak and declined 6.9% since January 19th. This is a normal correction and similar to the 7% decline we saw last June 15th-July 10th.
Read MoreOn Tuesday, January 19th, US stocks reached the highest level since September 30th, 2008, a sixteen month high. For the rest of the week, stocks declined 5.1%, reminding investors of the dark winter of 2008-9, when stocks seemed prepared to drop to zero
Read MoreFor 2009, the S&P 500 gained 26.5%, the Dow Industrials gained 22.7%, the NASDAQ gained a phenomenal 45.4% and Barclays Aggregate Bond index gained 6.1%.
Read MoreWith less than 8 trading days remaining in 2009, we're pretty much sitting on our gains with our fingers crossed. About the only thing that could ruin our year at this point is a terrorist attack on the Rockefeller Center Christmas Tree in New York City
Read MoreBy mid-October 2008, the bankruptcy of Lehman Brothers had morphed into a far more serious crisis. Bear Stearns was absorbed into JP Morgan in March 2008, Fannie Mae and Freddie Mac were effectively taken over by the US government in September 2008
Read MoreExactly one year ago, the unexpected failure of Lehman Brothers set off a horrific 6 months for US and world securities markets.
Read MoreThe S&P 500 gained 53.2% in the 6 months since the March 9th bottom. Over the same time frame, the NASDAQ gained 57.1%. These are among the sharpest gains ever recorded for either index (record for the NASDAQ.)
Read MoreThe S&P 500 gained 0.2% in May and is now up 3.2% on the year. Stocks gained 15.9% in Q2, the best quarterly result since 1998. From the low on March 9th through quarter end, stocks generated gains of 36.9%, one of the steepest rallies of the last 80 years.
Read MoreIn the first week of March of this year, millions of Americans opened their February statements, saw that their accounts were down another 20% on the year after falling 38% in 2008, and sold out their stocks for good.
Read MoreMillions of individual investors opened their February statements, saw that their stocks were down 19% on the year and sold out, driving the S&P 500 on March 9th to the lowest level since September 1996.
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