Here's a litle sheep history..August 18, 1997 was the beginning of another great week, with three straight 100-point up days: Up 108.70 on Monday, August 18, +114.74 on Tuesday, August 19 and +103.13 on Wednesday, August 20. That brief bit of euphoria turned out to be the eye of the Asian currency market typhoon/hurricane – the calm after the first panic in early August & before the second major downdraft, in late October 1997.
August 18, 1998 was another great day, also in the eye of a market hurricane. That day, the Dow rose 140 points (nearly 2%), but for the month it declined a record -1344 points, mostly from of a 1,000 point decline in the last three trading days of August, 1998, over the hedge fund management crisis. |
