January 4, 2008
The indices fell on each of the first three trading days of the year-after dropping on the last day of 2007.
On Friday, the NASDAQ posted its sixth straight decline, losing 8.8 percent since the day after Christmas. Moreover, these negatives followed six consecutive days of increases, in which the NASDAQ had advanced 5.5 percent.
It is not unusual that the NASDAQ to have such sequences: there have been 66 of these before 2000 and 12 runs of six losing days since then.
There have been four trading days since January 2000, that this index fell for a seventh straight day; while it has posted eight turn arounds, closing positive, after six declines.
This entry was posted on Monday, January 7th, 2008 at 12 082008000000Mon, 07 Jan 2008 08:15:35 +0000 and is filed under Market Report. You can follow any responses to this entry through the RSS 2.0 feed.
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