When Will the Secular Bear Go into Hibernation?

Market Performance

4th Quarter 2005

12/31/04 12/30/05 Year 2005
Close Close % Change


DJIA 10,783.01 10,717.50 Down 0.60%

S&P 500 1,211.92 1,248.29 Up 3.00%

NASDAQ 2,175.44 2,205.32 Up 1.37%

Russell 2000 651.57 673.22 Up 3.32%




First year in 3 years the Dow has ended in negative territory.
First year ever the Dow ended essentially flat for the year.