Superstition is nothing new on Wall Street. So as we celebrate the Chinese New Year find out what the upcoming year of the Oxcould mean for markets.
Practitioners of the ancient art of feng shui believe the year of the Ox will bring a greater sense of calm and stability in 2009. Historically, however, the year of the Ox has been pretty weak for both the Dow and the S&P. Only of the year of the horseand the year of the snake have performed more poorly -- since 1928!
Take a look!
Year S&P Avg. Annual Returns
Ox +3% ********
As you can see from the chart above, on average the year of the Ox end with markets up a paltry 3% . However, we're thinking after last year, if the market are up at all, investors will probably be happy!
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Trader disclosure: On Jan. 26th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (EEM), (F), (FXI), (PBR); Seymour Owns A Short Position In (SNE); Seymour's Firm Owns (BIDU); Macke Owns (MS), (BAC), (SDS), (MCD); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (GE) Put Spread; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls/Put Spread; Najarian Owns (PALM) Calls
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