Happy Anniversary Black Monday

There is a lot of chatter out there today about the 24th anniversary of Black Monday - the 1987 Stock Market Crash. I was just a young kid playing baseball back then and had no idea that a quarter century later I would be blogging about it. Funny the way life works.

Eddy Elfenbein wrote on Crossing Wall Street that,

"Twenty-four years ago today, the Dow lost 508 points. Since then, we’ve gained 9,839 points but only 80 have come since December 31, 1999."

Bespoke Investment Group has a nice piece up today about how the 1987 crash wasn't a good entry point for everyone. Stocks like $AMD $AIG $EK $GT & $THC are all down since then.

One of my favorite technicians of all time, Art Cashin at $UBS, shares his personal experience of that day on ZeroHedge

StockCharts put up the NYSE Bullish Percent Index Chart going back to 1987 to show the ups and downs in the overall "health" of the market since the crash.

I also found this cool video a couple of months ago. The night of the crash, Nighly Business Report on PBS interviewed Technician Stan Weinstein. I thought it was interesting to hear his take on the crash live as it was happening. You can skip right to the interview at around the 4 minute mark:

This interview takes place during the 2nd 10-minutes a 30 minute show on October 19, 1987. Click here for Part 1 and here for Part 3.