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Most investors want to believe 2008 was only a bad dream, is it over?

January 5, 2009

Analysis of:Do you think the Market made the bottom/ | www.carrmiller.com

The Dow Industrials ended the year down 33.8%, the S&P 500 was off 38.5% and the NASDAQ Composite was lower by 40.9%. Other indexes fared no better, the Value Line was down 37.4%, and the Russell 2000 was off 34.8%. Take a look at the Dow Transports, lower by 22.6% and the assumed so safe Utilities average with its ever present dividend yield was down 30.4%. Commodities once thought to be the safe haven against the dollar proved no better. The DJAIG Commodity index was down 36.6%, the PHLX Housing Index is off 40%, silver was down 23% and gold, the one asset that had the greatest hype had a slight gain of 5.7%. But wait gold and silver stocks-XAU-was down 28.5%. Has the bottom been achieved, is the market to go higher in 2009 or are we in for more of the same?

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