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January 9, 2008
Nasdaq Going for Number 9?
Not to get all numerological or anything, but Nasdaq keeps going negative today, and a close in the red would make it a nine-day down streak. With that in mind, and knowing that the last nine-day streak (of which there have been only three) was in 1982, here is a table of the longest consecutive-day losing streaks on the Nasdaq Composite since 1971:
| Period | # days | % lost |
| 1/19/84 - 2/9/84 | 16 | -12.4% |
| 6/26/74 - 7/10/74 | 10 | -12.0% |
| 7/16/75 - 7/29/75 | 10 | -6.0% |
| 5/16/84 - 5/30/84 | 10 | -6.8% |
| 8/3/82 - 8/13/82 | 9 | -4.9% |
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Looks like 9 days in a row, NASDAQ may go down to 100 this year, DOW 900, S&P 500 150.
Looks down roughly 10 1/2% since the Dec. 26 close (last up day before the streak), which is already a bigger drop than the bottom 3 streaks on your list. So what's better, a shocking 10% drop over 1 day that could be explained away by lots of speculative theories, or that same 10% spread out over a couple of weeks, relentlessly grinding on, day after day, never a respite, with no relief in sight, that can only point to 1 thing?