BULL MARKET OR BS?
6 August 2009 by Cullen Roche
1 Comment
The Fast Money team discuss whether the rally will continue, with David Rosenberg, Gluskin Sheff chief economist.
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Comments
It was a different situation but there was a rally of very similar magnitude off the crash in 1929 (almost 50%). The rally off THE bottom in 1932 was almost 100% (from DOW 41 to 80) before the market retraced much of the gain back to 50. The other major bear markets either finished at very low PE ratios (1982) or finished with a retest of the lows. This bear market will be rather unique if we go straight up from here.