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There are many ways to look at the market. One way is that we have made a 50%+ move on the SPX and should have a correction. Hard to argue with that.
Aug 20 19:05 pm
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All Comments by Gerry Sullivan »What Investors and Traders Should Do Right Now [View article]
But, 11 months ago, the week of Sept 15, 2008, Lehman filed bankruptcy on Monday and AIG was taken over by the US Government on Tuesday evening. Things looked scary. The SPX ended the week at 1255 , 25% higher than today.
The question I ask the bears (and myself) is this: were things better then at SPX 1255 or today at SPX 1007?