The Last Five Days

Here’s the story:

Consumer stocks are the black line. Early cyclicals are gold, and late cyclicals are blue.
This is not a value-versus-growth issue (growth is actually holding up a bit better). It’s a rethinking of the economy’s prospects.
The Dow is headed for its biggest point loss since March 24, 2003 when it dropped 307 points. But the Dow was only at 8,200 then.
Update: Dow 11,200 has just fallen to the enemy!!

Posted by Eddy Elfenbein on May 17th, 2006 at 2:11 pm

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