A Tour of 2008, Before the Big Crash
Hi Everyone, Princess Gwen here. A Lambo is better than a pumpkin carriage, and to have one I've got to keep my investments profitable.
Now that the Nasdaq has finally broken down from long term resistance, I thought I'd do another look back at the first half of 2008, before the banking crisis hit. It seems to me like we're reliving this graph, 11 years later. Everything feels new, though, because as humans we can't seem to remember our financial past. However, looking at the two graphs, it feels kind of like going through a dungeon in a video game that you'd already done before.
I want to use this as a reminder that, even in a bearish market, things can chop sideways for a long time before breaking down. There can easily be six months of market indecision before things really fall apart. And part of that will involve bull rallies, potentially enough to the upside to look like the market will break out. Hindsight says, "Of course they fell again, it was the Great Recession!" But at the time, it was not as clear what was coming.
Now that the Nasdaq has finally broken down from long term resistance, I thought I'd do another look back at the first half of 2008, before the banking crisis hit. It seems to me like we're reliving this graph, 11 years later. Everything feels new, though, because as humans we can't seem to remember our financial past. However, looking at the two graphs, it feels kind of like going through a dungeon in a video game that you'd already done before.
I want to use this as a reminder that, even in a bearish market, things can chop sideways for a long time before breaking down. There can easily be six months of market indecision before things really fall apart. And part of that will involve bull rallies, potentially enough to the upside to look like the market will break out. Hindsight says, "Of course they fell again, it was the Great Recession!" But at the time, it was not as clear what was coming.
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