Ed Yardeni does the math so I don't have to:
The S&P 500 Financials probably bottomed on March 6. If so, then so did the S&P 500 at the devilish level of 666 on an intraday basis. Since their latest bottoms, the S&P 500 Financials and Banks stock price indexes are up 58.1% and 76.9%, respectively. ... The S&P 500 is 18.2% above the March 3 level, when President and Chief Investment Strategist Barack Obama said that stocks were “a potentially good deal.” The next stop might be a test of the year’s high on January 6 at 934.70, which would make for a 40% rally since 666. ... The March 6 bottom was made on worries that the government would have to nationalize the banks.
Tony Lee of CA @ Mar 24, 2009 15:52:51 PM