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Sunday, August 31, 2008

When Will Wall Street Bottom Out?

When Will Wall Street Bottom Out?

Najeeb of AmFraser Securities shared his views with the audience at the EFT Seminar on August 30, 2008.

I summarised Narjeeb's Views issued on August 29, 2008 as follows:

  1. S&P tends to peak 6 months (Oct 9, 2007) before recession begins (April 8, 2008)
  2. Average bear market lasts 12 months, can also go on for 2 or 3 years.
  3. October is known as "bear killer” in Stock Trader's Almanac. October has marked the end of 9 major markets – 1974, 1987, 1990 and arguably October 2002.

Wah! Stock Trader's Almanac, like doing Fengshui Forecast! Narjeeb also warned this may not be the final bottom!

Read his Full ETF Allocation Report.

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