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The Best Stock Market Buy Signal In 51 Years
Media pundits keep reminding us how tough 2009 will be economically. Nevertheless, I predict this will be a good year for the stock market.
How can this be?
The stock market is a leading indicator. It generally falls before consumers and investors realize just how bad the economy is.
It also recovers long before economic activity picks up. Perversely, that means stocks often plummet during good economic times and rally during recessions… or worse.
In the January issue of The Oxford Club Communiqué, for example, I note that:
- In the 13-month recession in 1926-27, the market went up 41.1%.
- In the eight-month recession in 1945, it…
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