Happy New Year By Ted Olshansky
Publish Date: December 23, 2007
‘Twas the night before Christmas, and what do you know
Neither the Bulls nor the Bears, could figure which way to go.
The bears were all nestled, tucked in to their beds,
With thoughts of recession engrained in their heads.
High oil prices and the great housing bubble,
Surely spelled a great deal of trouble.
With the subprime mess and the war in Iraq,
They knew for sure the market would crack.
The bulls had a tough time maintaining their opinion,
At times there weren’t enough bulls to form a minion.
The market took dives in February and November,
And the sell offs were powerful, we all remember.
The Bulls cited interest rates and reasonable P/E’s,
They had to counter pervasive negativity.
For if you listened to the politicians
Who only talk of gloom and fear,
You would have sold every stock
That you hold dear.
So all in all there still is a lot of cheer,
It hasn’t been too bad a year.
With oil in the 90’s and financials in woe,
Who would have thought the market would be closer
To the yearly high, than the low.
And one of the reasons we can be optimistic,
Is that the Fed understands each and every statistic.
It has taken steps to inject liquidity,
And the market responded with it’s upward proclivity.
So for 2008, let’s hope for a good year.
One that gives the Bulls, much to cheer.
And most important, to have peace in this world,
And let us all be proud when we see stars and stripes unfurled.