Some believe 666 is the sign of the devil. But on Wall Street 666.79 is the level the S&P 500 bottomed at as the bear market of 2007 through 2009 came to an end.
The bear market began in May of 2007 and ended in February of 2009 on a closing monthly basis saw a drop of -51.98%.
The S&P 500 closed today at 2771.45. The advance is 247.36%. If you annualize the move, then it comes to 24.73% a year. During, this time though, the markets lost ground in 2011,2015 and 2018.
Our Morning Matters Portfolio began in May of 2008 and is a 12 stock portfolio with each position having a starting weighting of 8.25% of the portfolio. Its current gain through last Thursday's close is 488.57%. Take that Motley Fool!
Our favorite stock in the portfolio is recent addition Google (GOOG) that was added at a price of $1124.84 and is now at 1157.86. Our price target is $1479 which is found on our stock scorecard in Superstock Investor and here on Wall Street Rebel.
The worst drop on a yearly basis was in 2018 that saw the S&P 500 lose -6.24%.
This year has gotten off to a great start but in the last two weeks it appears that the S&P 500 has hit stall speed. More on this tomorrow.