2005: Markets go Plop

2005 January market graphsHey, did I nail it or what? The crash has started. From the Financial Times’ article — Wall St?Äôs poor start could bode ill for year:

The poor performance – and absence of cash flows – has caught many off guard and raises the ominous question: is this the prologue to a bad year?

“This is a big surprise – you almost always get a rally at the beginning of the year as money comes in,” said Fred Hickey, who writes the Hi-Tech Strategist newsletter, which holds a bearish view of the market. “It’s following a pattern that we saw in Japan in 1990.”

It will get worse, much worse. I’m kinda annoyed that I was off by a few weeks though and it won’t be called the Christmas Crash of 2004. Selah.

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