Monday, December 1, 2008

7th Worse Drop in History and we are in an official recession

After 5 consecutive up days, the market fell of a cliff closing down 680 points (-7.7%), to close at 8149. The S&P did even worse and fell 9%.. 9%!!!!

This wiped out 50% of last weeks rally.

Financials got absolutley hammered once again. The financial ETF was down 17%.

The news and headlines are just one terrible story after another. There is no good news:
- government announced we have been in a recession since Dec 2007. Wow, shocking news!

FUK, I have already lost $100k this year. I have not and will not look at my individual holdings.

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