New and existing home sales for November cratered, while retail sales for the holiday season looked pretty bleak. And lets not forget, more than 500,000 unemployment claims were filed yet again this past week -this has been a weekly occurrence for some time now! Meanwhile, we approach the end of the year with the national debt clock now clocking around $10.685 trillion.
Next week will be the final trading week for 2008, the worst year for the stock market since 1931 - Good Riddance! We will probably see more light-volume trading like last week, along with maybe some tax loss selling. What can we look forward to in 2009? I will make some predictions in the next blog update.
Some of this years winners: Family Dollar Stores (FDO), Amgen (AMGN), Wal-Mart (WMT), McDonalds (MCD), and Inverse ETFS! (like SDS)
Some of this years losers: (basically everything!) Financials (XLF) -most banks and brokers, Retailers (RTH), Emerging markets (EEM), Gold miners (GDX), Commodities, and the major indexes (S&P 500, DOW, Nasdaq).
Unemployment claims highest since '82
Home Sales Tumble Again, Hopes for a Bottom Fade (video)
Fed's Balance Sheet Is Ballooning Fast
Japanese Exports Fall Record 27%
Russia devalues rouble for sixth time, more to come
Where'd the bailout money go? Shhhh, it's a secret
Battered commodities could perk up late in 2009
U.S. stocks turn to final week of 2008
Get Ready for a Lost Decade
Year End Review and Outlook - MarketWatch
The 2008 market will go down in history
Was 2008 the beginning of another Great Depression?
The Coming Hyperinflation?
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