The Dow and the S&P both had their worst January in history.
This month has been the worst January for the Dow since 1896, and for the S&P since 1928.
As both Bloomberg and Market Watch point out, the performance of the stock indices in January tends to forecast stock performance during the rest of the year.
So 2009 may be a very bumpy ride.
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I've been bearish on the economy and the markets for over a year now. However, given the recent economic statistics and market action, I'm moving from bearish to downright alarmed. IMO, we will be very lucky to make it through 2009 having suffered only a bumpy ride. This could get ugly.
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