Monday, December 1, 2008

NZX Hangover from 1999 possible

Looking at charts for the beginning my Long vs Short series I got a bit sidetracked-but still related- as you can on the internet and found to my horror that the chart for the NZSX50 index for the last 10 years(above) looks like the kind of chart that would plot the course of the Hindenburg shortly before it crashed.

To be fair the New Zealand stockmarket pretty much reflects the sad performance of the Dow Jones index when you compare the 5 year chart (below) but when you look back a further 5 years that is when things look as ugly as Paris Hilton having it off with her shih tzu.

The NZSX50 is currently at early 2005 levels and only has 800 points further to fall to get back to 1999 levels. It has lost 750 points in the last 3 months, so it is not beyond the bounds that our index will be having a flashback hangover early 2009 inspired by New Years Eve 1999.

Time to resurrect Prince.

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Related Links

NZX 15
NZX 50 Portfolio
NZX SmallCap
NZX MidCap
NZX Blog

Related Amazon reading

New Zealand Investor Monthly
Buy new: $53.70

c Share Investor 2008

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