SANTA FAILS TO CALL AT BROAD & WALL

(ANOTHER BAD YEAR)
If Santa Claus should fail to call, bears will come to Broad & Wall.
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January performance 2008=FTSE January fall 8.937%
JANUARY PERFORMANCE nearly always gives the trend for the rest of the year.
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End of January figures 2009
FTSE100-6.416%
FT all share index -5.9%
Dow30 -8.83%
S&P500 -8.565%
Nikkei 225 - 9.769%
Dax(xtra)- 9.809%
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Broader uk index Yields

2008 4.45%
This is the highest year end yield since 1981
From 1980 to 2007 the index yields have been historically low.
Highest year end yields since 1919.
1974=9.44%
1920=7.84
1921=7.12
1976=5.92%
1940=5.56
1979=5.44%
1931=5.44%
1930=5.36%
1923=5.12%
1957=5.04%
I only have the data for the end, It is certain that the above yields were much higher in parts of each year.
Since 1950, there have been only five times when January got it wrong in a big way. That gives it an accuracy ratio of 91.4 percent. Throw in the 10 years since then when the market hasn't moved much in a year, and January is still accurate 74.1 percent of the time, according to the "Stock Trader's Almanac,"