2008 AAII Stock Screen Roundup: Piotroski Strategy Defeats the Bear
To borrow from Thomas Paine: These are the times that try investors’ souls.
For many investors, 2008 cannot end soon enough. The market, as defined by the S&P 500, spent most of the first nine months of the year moving within two rather well-defined trading channels—the first lasted from the start of the year through late June, and the second from late June through late September. At that point, stocks picked up momentum on the downside, until they hit an intermediate low in late October, and then rallied almost 9% leading up to the Presidential election.
However, the rally was short-lived, and after Election Day the swoon deepened: At the close on December 5, 2008, the S&P 500 index was down 40.3% since January 1.
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