Stagflationary Mark has been documenting how many times the S&P 500 has crossed the magical 1,200 mark.
With the close today at 1,199, it only needs one small up day to finish above that mystical level for the 26th time.
The first time it closed above 1,200 was on 12/21/1998.
It seems much more special in 2011 than it did 13 years ago. Now, it is true that if you bought and held since 1998, you collected some dividends along the way, but this pesky thing called inflation ate it.
Stocks for the long run! (or not)
I anxiously await the next nearly guaranteed heckling moment.
ReplyDeleteI say nearly guaranteed because in theory I could die (of old age if nothing else) before we cross 1200 again. You just never know for sure.
Mark,
ReplyDeleteWe will certainly see another close or two above 1200 this year, but my guess is that we will be below 1200 at the end of the year unless we get a full bore QE3. So, maybe I am leaning the other way. Hmm, I don't think QE3 is going to be as great for stocks are QE1 or QE2 unless the dosage is greater.