Stocks Killed, S&P Back To Spring Of '97

[KoKo]

Joe Weisenthal|Feb. 23, 2009, 4:09 PM|31

The S&P is now back to levels not seen since April 1997. The Dow a few months before that.

All the major indices were off over 3.4% today.

But at least a few of the banks ended up marginally, so that's something. We're still waiting on official word of the government's latest rescue package for Citi (C).

Other good news: We barely heard the term "bottoming process" at all on CNBC today, which means that, perhaps, the bulls have lost all hope. That may or may not be a sign of a bottom.


http://www.businessinsider.com/stocks-killed-sp-back-to-spring-of-97-2009-2

[Oregone]

1. A good year. Can our music go back to then too?

[Tyler Generation]

7. Ugh, back to Limp Bizkit?

1997-2002ish was a horrible time for music. If you wanna go back to the 90's go to the early part.

[Oregone]

8. No, no...youre right...I forgot...

My CDs were all a few years old by then. 1993 was a good year.

[TheFarseer]

2. take it from this amateur trader: it's brutal

I'm losing a couple hundred bucks a day. It's almost to the point of being irrational. Nothing is working except for gold and I'm convinced that's a bubble - one that I should have had the vision to take advantage of, but a bubble none the less.

[GoesTo11]

4. I envy you.

Losing a couple hundred bucks a day instead of thousands and thousands of my retirement account per day. Looking at 5 more years work before retirement compared with a year ago(very little SS). I take my brown bag lunch with leftovers and save a few bucks, then listen to the news on the radio and realize I just lost enough to have a cafeteria lunch every day for the rest of my working life - including the damn extra five years.

[Skink]

3. I remember when 7000 was unbelievable.

[GoesTo11]

5. I remember April 1997

and seeing how, assuming a 9% return, my maxed out 401k contributions would lead in a couple dozen years to a very comfortable nest egg. 9% my gd ass. 0% minus fees and inflation.

You know who got all that 9% action? Jack effing Welch. Cashed out of GE for about a billion dollars. Plus the hedge funds. Plus Rubin, plus - oh christ, a lot of people skimmed off what should have been growth and left us holding a bag full of shit.

[KoKo]

6. Yeah...the money sort of went down the "rat hole" and we can't even get anyone prosecuted....

Still...it's good to know that there are internet websites now working on this.

When I first got on the Internet with "Win-95" there were only about three sites that even cared about the STOLEN ELECTION! "Bart Cop, Salon Magazine, Buzzflash" and then I found a link to DU.

These days there are so many sites exposing Criminality of Politics that it's hard to read them all and still work and have a life.

It's getting better... I guess that's the biggest hope we can all have. The more Information about the CRIMINALS that gets out...then the better the HOPE for CHANGE... that goes beyond Obama but helps him work for the REST OF US...:shrug: