Another worst February performance since 1933

2/27/09

After a horrendous January, stocks presented a like scenario for February.

The S&P's finish was its worst since the 731.54 hit at the close of Dec. 18, 1996, with its percentage decline in February proving to be the second-worst on record following the 18.4% hit that came in 1933.

After the worst January performance in its 113-year history, the Dow industrial marked the index's worst February point decline, and its second-worst percentage drop since 1933, when it lost 15.6%.

The Nasdaq decline proved its worst percentage drop since 2001, when it discarded 22.67% of its value.

With S&P closed below 741-745 area as I mentioned yesterday, remain cautious bearish is very very important. There is no landing zone until 615-645 for S&P from a technical perspective. Watch out down below as we are fall..fall..falling!!!