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If you’re a history buff you can’t help but notice patterns recurring throughout the decades. That’s particularly true of market corrections which often follow three basic recovery patterns.
There's the V-shaped recovery where a market experiences a sharp, fast decline but comes out strong once it hits bottom; a U-shaped recovery, where stock prices decline and then recover slowly; or an L-shaped curve, which is a hard, fast fall with little bounce.
What will our recovery look like as we attempt to get us out of the current financial mess?
According to former GE Chairman Jack Welch it will be U-shaped. At a conference in September he said, “I don’t see a V-shaped recovery--(I expect it to be) more like a bathtub U-shaped recovery which will last deep into the second half of 2009 before we start to come out of it.”
Fast Money trader Joe Terranova agrees whole-heartedly. But there is at least some good news. “The worst is clearly behind us,” he says. “For the market to navigate through all this bad data the worst is behind us.”
What should you expect going forward?
”We probably made capitulation back in October. I think in 2009, we embark on a long but steady climb higher. Adjust your trading accordingly,” concludes Terranova.
- HALFTIME REPORT: Plays for a Dollar-Dominated Market
- Your First Move For Wednesday November 10th
- Web Extra: The Best Trades In Tech
- Pops & Drops: UPS, Electronic Arts...
- Take Your Position: Retail Earnings
- The Return of Dividend Investing?
- Should You Believe in this Rally?
- Trading in this Technicals-Driven Market
- HALFTIME REPORT: How to Trade Senator Dodd's Financial Reforms
- Your First Move For Tuesday November 9th
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Trader disclosure: On Dec. 3rd, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Pete Najarian Owns (AMR) And Is Short (AMR) Calls; Pete Najarian Owns (FCX) And Is Short (FCX) Calls; Pete Najarian Owns (HIG) Calls; Pete Najarian Owns (UYG); Pete Najarian Owns (SBUX) Calls; Karabell Owns (AAPL), (FCX), (GLD), (GOOG), (JPM), (UYG), (DRYS); Seymour Owns (AAPL), (BAC), (F), (MER); Seygem Asset Management Owns (FCX)
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (OFC), (DLR), (EXR), (IGE), (MAC), (DBC), (DBV), (SKT), (UA), (CLB); Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights
GE Is The Parent Company Of CNBC
Data is a real-time snapshot *Data is delayed at least 15 minutes