Usually the earlier one invests with more time to grow, the better. The results of investing in January rather than December each year even if the amounts invested and returns were the same would result in some 8% greater ending value for the earlier investment. This from Yahoo! Finance and other sources: $4,000 per year over 30 years invested in December and earning 8% ends as $453,000 whereas investing in January of the same year and earning the same 8% ends as $489,000, a difference of $36,000 or about 8% more. That should be reason enough to get started early and stay the course.
Better yet would be to pick the low day of the year – lots of luck, you say? Actually, the Capitulation Indicator discussed in the Special Report “Capitulation – The Ultimate Bear Market Low Indicator” does a pretty good job of that at the end of Bear markets. The only problem with it is that it has only occurred 15 times over the last 60+ years, and that doesn’t help to pinpoint the annual low. Most investors make annual (or more) investments in their Individual Retirement Accounts or personal accounts and most would like to know what the single best day is to make that annual investment each year.
On January 24th, 2005 I heard about an expert in Seasonal Affective Disorder from Cardiff University in Wales who had devised a formula that showed “that 24th January is the worst day of the year”. The British psychologist was talking about a mental health issue relating to depression and did not have the American stock market in mind, and it sounded silly, but it got me thinking about the possibility it could have some relevance to the stock market. After all, the emotions of fear and greed play a big part in investing, as does enthusiasm and discouragement or depression. Our first discussion of the phenomena can be found in the February 2005 Letter. I was reminded of the January-February “gloom period” that prevailed at West Point when I was a cadet some 60 years ago, and for 150 years before that, and still does today. Researching January 24th led me to discover that it had been THE low in 1945 and 1999, and was also within 3% of the lows in 1943, ’50, ’51, ’55, ’56, ’64, ’72, ’83, ’86, ’88, ’92, ’93, ’95, ’98, and 2005. In January of 2006 the annual low was on January 20th! The next surprise I discovered was that since 1950 the annual low occurred 24 times of the last 66 years in January, or 36.3% of the time in ONE month! Not surprisingly, all 24 Januarys that marked the lows occurred within bull markets! No other month came close to January’s 24; only October with ten, February, March, and June each with six, April with 5, had more than four. As impressive as the record for the 24th of January was, it turned out that the first trading day of the new year was THE low for the year nine times or 12% of all annual lows. 29 of the first days of the last 76 years, or 38%, were within 3% of the lows. All things considered, there can be no doubt that the single best day at or closest to the annual lows in the stock market is the first trading day of the year. Sometimes investing seems simple, doesn’t it? Your best option is to make your annual investment contribution on the first trading day of January each year, unless… maybe not in a bear market – no bear market has EVER ended in January. Actually, over the last 100+ years, every other month has been the low for one or more bear markets with October having witnessed the most with seven – but none in January. So what to do?
If the market is in a bona fide bear market as defined as down at least 16% on both the Dow Jones Industrials AND the Standard & Poors 500 Index, it would be wise to wait and watch for capitulation, or a Buy signal from either the Dow Theory or the Schannep Timing Indicator. Capitulation has been identified at or within three days of the bear market lows 8 of the last 13 bear market bottoms. On those occasions it certainly would have been wise to use that as the trigger for your annual investment in those years. The COMPOSITE Indicator takes into affect the status of all three Indexes and therefore its recommended investment stance is the one to follow on the first of each year. The attached record shows that investing between 50% and 100% on the first trading day of each year has been appropriate most of the time. But it was appropriate to withhold taking an initial position in 1958, ’74, ’78, ’79, ‘80 and 1982, only 6 of the last 56 years, because of a zero percent investment position dictated by the COMPOSITE Indicator. Later in those years a signal was given to invest which beat a buy and hold strategy in 1974, ’78, ’79, and ’80. Actually, no signal was given in 1979 and it was more profitable to stay out of the market and collect 11% interest in money market funds! Over the long-term the strategy of timing and/or adjusting the amount of investment on the first trading day of a new year in accordance with the status of the COMPOSITE has resulted in more than doubling the results of a simple buy and hold strategy. That’s the difference between earning 11.8% or 10.3% annually. You make the choice, but either way investing some or all on the first trading day of each new year usually works pretty well!
January 2018 Update: Since I first wrote this Special Report in 2005, the word seems to have gotten out to investors. Buyers have made the first trading day of year an UP day 10 of the last 13 years, 77% of the time (+104.79 in 2018, +119.16 in 2017, -286.09 in 2016, +9.92 in 2015, -135.31 in 2014, +308.41 in 2013, +179.82 in 2012, +93.24 in 2011, +155.91 in 2010, +258.30 in 2009, -220.86 in 2008, +11.37 in 2007, and +129.91 in 2006). These results speak to buying on the last trading day of the year so as to benefit from the first day’s strength. January 2021 Update: First day of 2019 was +18.78, 2020 was +230.36, but 2021 was -382.59.
Jan 2nd/3rd/4th – The First Trading Day of the Year – The Single Best Day (at the Annual Lows)
| Dow Jones | 1st Day: | Annual Low: | Date of Low: | % Decline to Low: | Observations: | |||
|---|---|---|---|---|---|---|---|---|
| 2021 | 30223.89 | |||||||
| 2020 | 28,868.80 | 18,591.93 | 23-March | 55.3% | ||||
| 2019 | 23,346.24 | 22,686.22 | 3-Jan << | 2.8% | All 26 (37%) of the Januarys that marked lows over the last 70 years occurred during bull markets. | |||
| 2018 | 24,824.01 | 21,792.20 | 24-Dec | 12.2% | 22 first days of Januarys over 70 years (31%) were within 3% of the lows, | |||
| 2017 | 19,881.76 | 19,732.40 | 19-Jan << | 0.7% | No other month had more than 10 lows (October) | |||
| 2016 | 17,148.94 | 15660.18 | 11-Feb | 8.7% | March and June each had 6 | |||
| 2015 | 17832.99 | 15666.44 | 25-Aug | 12.1% | ||||
| 2014 | 16441.35 | 15372.80 | 3-Feb | 6.5% | 8 first trading days of January (11%) were THE low for the year. | |||
| 2013 | 13412.55 | 13328.85 | 8-Jan << | 0.6% | ||||
| 2012 | 12397.38 | 12101.46 | 4-Jun | 2.4% | ||||
| 2011 | 11670.75 | 10655.30 | 3-Oct | 8.7% | ||||
| 2010 | 10583.96 | 9680.48 | 2-Jul | 8.5% | ||||
| 2009 | 9034.69 | 6547.05 | 19-Mar | 27.5% | ||||
| 2008 | 13043.96 | 8451.19 | 20-Nov | 42.1% | ||||
| 2007 | 12474.5 | 12050.41 | 5-Mar | 3.4% | ||||
| 2006 | 10847.41 | 10667.39 | 20-Jan << | 1.7% | ||||
| 2005 | 10729.43 | 10087.57 | 15-Apr | 6.0% | ||||
| 2004 | 10409.85 | 9749.99 | 25-Oct | 6.3% | ||||
| 2003 | 8607.52 | 7524.06 | 11-Mar | 12.6% | ||||
| 2002 | 10073.40 | 7286.27 | 9-Oct | 27.7% | ||||
| 2001 | 10646.15 | 8235.81 | 21-Sep | 22.6% | ||||
| 2000 | 11357.51 | 9796.03 | 7-Mar | 13.7% | ||||
| 1999 | 9184.27 | 9120.67 | 22-Jan << | 0.7% | ||||
| 1998 | 7965.04 | 7539.07 | 31-Aug | 5.3% | ||||
| 1997 | 6442.49 | 6391.69 | 11-Apr | 0.8% | ||||
| 1996 | 5177.45 | 5032.94 | 10-Jan << | 2.8% | ||||
| 1995 | 3838.48 | 3832.08 | 30-Jan << | 0.2% | ||||
| 1994 | 3756.60 | 3593.35 | 4-Apr | 4.3% | ||||
| 1993 | 3309.22 | 3241.95 | 20-Jan << | 2.0% | ||||
| 1992 | 3172.41 | 3136.58 | 9-Oct | 1.1% | ||||
| 1991 | 2610.64 | 2470.30 | 9-Jan << | 5.4% | ||||
| 1990 | 2810.15 | 2365.10 | 11-Oct | 15.8% | ||||
| 1989 | 2144.64 | 2144.64 | 3-Jan << | 0.0% | ||||
| 1988 | 2015.25 | 1879.14 | 20-Jan << | 6.8% | ||||
| 1987 | 1927.31 | 1738.74 | 19-Oct | 9.8% | ||||
| 1986 | 1537.73 | 1502.29 | 22-Jan << | 2.3% | ||||
| 1985 | 1198.87 | 1184.95 | 4-Jan << | 1.2% | ||||
| 1984 | 1252.74 | 1086.56 | 15-Jun | 13.3% | ||||
| 1983 | 1027.05 | 1027.05 | 3-Jan << | 0.0% | ||||
| 1982 | 882.52 | 776.92 | 11-Aug | 12.0% | ||||
| 1981 | 972.78 | 824.01 | 25-Sep | 15.3% | ||||
| 1980 | 824.57 | 759.13 | 21-Apr | 7.9% | ||||
| 1979 | 811.42 | 796.67 | 7-Nov | 1.8% | ||||
| 1978 | 817.74 | 742.12 | 28-Feb | 9.2% | ||||
| 1977 | 999.75 | 801.50 | 2-Nov | 19.8% | ||||
| 1976 | 858.71 | 858.71 | 2-Jan << | 0.0% | ||||
| 1975 | 632.04 | 632.04 | 2-Jan << | 0.0% | ||||
| 1974 | 855.32 | 577.60 | 6-Dec | 32.5% | ||||
| 1973 | 1031.68 | 788.31 | 5-Dec | 23.6% | ||||
| 1972 | 889.30 | 889.15 | 26-Jan << | 0.0% | ||||
| 1971 | 830.57 | 797.97 | 23-Nov | 3.9% | ||||
| 1970 | 809.20 | 631.16 | 26-May | 22.0% | ||||
| 1969 | 947.73 | 796.93 | 17-Dec | 15.9% | ||||
| 1968 | 906.84 | 825.13 | 21-Mar | 9.0% | ||||
| 1967 | 786.41 | 786.41 | 3-Jan << | 0.0% | ||||
| 1966 | 968.54 | 744.32 | 7-Oct | 23.2% | ||||
| 1965 | 869.78 | 840.59 | 28-Jun | 3.4% | ||||
| 1964 | 766.08 | 766.08 | 2-Jan << | 0.0% | ||||
| 1963 | 646.79 | 646.79 | 2-Jan << | 0.0% | ||||
| 1962 | 724.71 | 535.76 | 26-Jun | 26.1% | ||||
| 1961 | 610.25 | 610.25 | 3-Jan << | 0.0% | ||||
| 1960 | 679.06 | 566.05 | 25-Oct | 16.6% | ||||
| 1959 | 587.59 | 574.46 | 9-Feb | 2.2% | ||||
| 1958 | 439.27 | 436.89 | 25-Feb | 0.5% | ||||
| 1957 | 496.03 | 419.79 | 22-Oct | 15.4% | ||||
| 1956 | 485.78 | 462.85 | 23-Jan << | 4.7% | ||||
| 1955 | 408.89 | 388.20 | 17-Jan << | 5.1% | ||||
| 1954 | 282.89 | 279.87 | 11-Jan << | 1.1% | ||||
| 1953 | 292.14 | 255.49 | 14-Sep | 12.5% | ||||
| 1952 | 269.86 | 256.35 | 1-May | 5.0% | ||||
| 1951 | 239.92 | 238.99 | 3-Jan << | 0.4% | ||||
| 1950 | 198.89 | 196.81 | 13-Jan << | 1.0% | ||||
| Ave. loss to lows from the 1st day in January: | 8.55% |
The Results of investing the Percentage recommended by the COMPOSITE Timing Indicator on the First Trading Day and/or when a Buy signal is given:
| Dow Jones 1st Day | Composite Total Results - for year | Buy & Hold Total Results: | Year-end Dow Jones | Year-end Yield | ($100 in 1954 Grows to...) Timed (13.5% annual) | ($100 in 1954 Grows to...) Buy & Hold (10.8% annual) |
|
|---|---|---|---|---|---|---|---|
| 2021 | 30223.89 | ||||||
| 2020 | 28,538.44 | 20.1% | 3.2% | 30,606.48 | 2.0% | $174,874 | $86,948 |
| 2019 | 23,346.24 | 17.6% | 22.3% | 28,538.44 | 2.2% | $145,607 | $82,650 |
| 2018 | 24824.01 | -0.3% | -3.5% | 23,327.46 | 2.4% | $123,816 | $67,580 |
| 2017 | 19881.76 | 22.5% | 28.1% | 24,719.22 | 2.1% | $124,189 | $70,032 |
| 2016 | 17148.94 | 10.6% | 16.5% | 19,762.60 | 2.4% | $101,379 | $54,670 |
| 2015 | 17832.99 | -1.8% | 0.1% | 17,425.03 | 2.1% | $91,663 | $46,926 |
| 2014 | 16441.35 | 9.7% | 9.7% | 17823.07 | 2.1% | $93,343 | $46,462 |
| 2013 | 13412.55 | 24.5% | 26.7% | 16576.66 | 2.1% | $85,089 | $42,354 |
| 2012 | 12397.38 | 6.0% | 10.4% | 13104.14 | 2.7% | $68,345 | $33,429 |
| 2011 | 11670.75 | 3.0% | 8.4% | 12217.56 | 2.9% | $64,477 | $30,279 |
| 2010 | 10583.96 | 7.5% | 14.0% | 11577.51 | 2.5% | $62,598 | $27,933 |
| 2009 | 9034.69 | 16.4% | 22.7% | 10428.05 | 3.6% | $58,231 | $24,503 |
| 2008 | 13043.96 | -8.5% | -33.8% | 8776.39 | 3.5% | $50,027 | $19,970 |
| 2007 | 12474.50 | 4.9% | 6.3% | 13264.82 | 2.3% | $54,674 | $28,694 |
| 2006 | 10847.41 | 14.0% | 14.9% | 12463.15 | 2.3% | $52,120 | $26,422 |
| 2005 | 10729.43 | 2.8% | -0.6% | 10717.50 | 2.3% | $45,719 | $22,544 |
| 2004 | 10409.85 | 5.3% | 5.3% | 10783.01 | 2.2% | $44,474 | $22,167 |
| 2003 | 8607.52 | 23.0% | 28.3% | 10453.92 | 2.0% | $42,236 | $21,042 |
| 2002 | 10073.40 | -6.5% | -15.0% | 8341.63 | 2.3% | $34,339 | $16,401 |
| 2001 | 10646.15 | -7.0% | -5.4% | 10021.50 | 2.0% | $36,726 | $19,295 |
| 2000 | 11357.51 | -4.5% | -4.5% | 10786.85 | 1.7% | $39,490 | $20,396 |
| 1999 | 9184.27 | 20.9% | 26.7% | 11497.12 | 1.5% | $41,351 | $21,352 |
| 1998 | 7965.04 | 17.9% | 17.8% | 9181.43 | 1.7% | $34,202 | $16,850 |
| 1997 | 6442.49 | 24.4% | 24.4% | 7908.25 | 1.8% | $29,010 | $14,304 |
| 1996 | 5177.45 | 28.0% | 28.0% | 6448.27 | 2.0% | $23,320 | $11,494 |
| 1995 | 3838.48 | 34.5% | 35.8% | 5117.12 | 2.3% | $18,219 | $8,979 |
| 1994 | 3593.35 | 4.5% | 4.8% | 3834.44 | 2.7% | $13,545 | $6,614 |
| 1993 | 3241.95 | 16.4% | 16.4% | 3754.09 | 2.7% | $12,962 | $6,309 |
| 1992 | 3136.58 | 7.3% | 7.3% | 3301.11 | 3.1% | $11,136 | $5,419 |
| 1991 | 2610.64 | 22.4% | 23.3% | 3168.83 | 3.0% | $10,378 | $5,052 |
| 1990 | 2810.15 | -0.7% | -0.4% | 2633.66 | 3.9% | $8,479 | $4,096 |
| 1989 | 2144.64 | 27.8% | 30.7% | 2753.20 | 3.7% | $8,539 | $4,114 |
| 1988 | 2015.25 | 12.7% | 15.5% | 2168.57 | 3.7% | $6,681 | $3,149 |
| 1987 | 1927.31 | 37.8% | 6.0% | 1938.83 | 3.7% | $5,928 | $2,725 |
| 1986 | 1537.73 | 26.1% | 26.1% | 1895.95 | 3.5% | $4,302 | $2,572 |
| 1985 | 1198.87 | 31.7% | 31.7% | 1546.67 | 4.0% | $3,412 | $2,040 |
| 1984 | 1252.74 | -5.5% | 1.3% | 1211.56 | 5.0% | $2,591 | $1,549 |
| 1983 | 1027.05 | 24.8% | 24.8% | 1258.64 | 4.5% | $2,741 | $1,530 |
| 1982 | 891.17 | 24.3% | 24.8% | 1046.55 | 5.2% | $2,197 | $1,226 |
| 1981 | 972.78 | 4.4% | -2.8% | 875.00 | 6.4% | $1,767 | $983 |
| 1980 | 844.80 | 24.0% | 20.5% | 963.99 | 5.6% | $1,693 | $1,011 |
| 1979 | 811.42 | 11.0% | 10.3% | 838.74 | 6.1% | $1,365 | $839 |
| 1978 | 810.12 | 9.4% | 2.9% | 805.01 | 6.0% | $1,230 | $761 |
| 1977 | 999.75 | -10.8% | -11.8% | 831.17 | 5.5% | $1,124 | $740 |
| 1976 | 858.71 | 22.0% | 22.0% | 1004.63 | 4.1% | $1,260 | $838 |
| 1975 | 632.04 | 42.7% | 42.7% | 852.41 | 4.4% | $1,033 | $687 |
| 1974 | 855.32 | 1.1% | -21.5% | 616.24 | 6.1% | $724 | $482 |
| 1973 | 1031.68 | -15.5% | -12.4% | 850.86 | 4.2% | $716 | $613 |
| 1972 | 889.30 | 16.5% | 17.8% | 1020.02 | 3.2% | $847 | $700 |
| 1971 | 830.57 | 9.0% | 9.6% | 890.2 | 3.5% | $727 | $594 |
| 1970 | 809.20 | 12.5% | 8.6% | 838.92 | 3.8% | $667 | $542 |
| 1969 | 947.73 | -6.0% | -11.0% | 800.36 | 4.2% | $593 | $499 |
| 1968 | 906.84 | 4.2% | 7.6% | 943.75 | 3.3% | $631 | $561 |
| 1967 | 786.41 | 17.3% | 18.5% | 905.11 | 3.3% | $606 | $521 |
| 1966 | 968.54 | -2.1% | -14.8% | 785.69 | 4.1% | $516 | $440 |
| 1965 | 869.78 | 13.9% | 13.9% | 969.26 | 3.0% | $527 | $517 |
| 1964 | 766.08 | 18.2% | 18.2% | 874.13 | 3.6% | $463 | $454 |
| 1963 | 646.79 | 20.1% | 20.1% | 762.95 | 3.1% | $392 | $384 |
| 1962 | 724.71 | 5.2% | -7.2% | 652.1 | 3.6% | $326 | $320 |
| 1961 | 610.25 | 21.8% | 21.8% | 731.14 | 3.1% | $310 | $344 |
| 1960 | 679.06 | -7.6% | -5.8% | 615.89 | 3.5% | $255 | $283 |
| 1959 | 587.59 | 17.1% | 19.5% | 679.36 | 3.1% | $275 | $300 |
| 1958 | 460.34 | 27.7% | 37.4% | 583.65 | 3.4% | $235 | $251 |
| 1957 | 496.03 | -6.0% | -7.8% | 435.69 | 5.0% | $184 | $183 |
| 1956 | 485.78 | 7.5% | 6.9% | 499.47 | 4.6% | $196 | $198 |
| 1955 | 408.89 | 25.2% | 25.2% | 488.40 | 4.4% | $182 | $186 |
| 1954 | 289.34 | 45.6% | 48.3% | 404.39 | 4.3% | $146 | $148 |
| 1953 | COMPOSITE Timing Indicator data began 12/31/53 | $100 | $100 |
Note: Dividends included
With the COMPOSITE Timed “First Trading Day of January” results in 11.7% annual compound growth.
Buying on the “First Trading Day of January” and holding results in 10.35% annual compound growth.
Details of COMPOSITE Indicator timed investments to year-end level:
- 2020 Real-Money Model Portfolio Gain was +20.0%
- 2019 Real-Money Model Portfolio Gain was +17.6%
- 2018 Buy, Sell Apr@24214 (NOT a bear market), Buy Jun-Sep 25989 then Sell Oct-Nov@24998 (WAS a bear market), Buy 1/2 on 12/24/18@21792.20. Portfolio Loss for year: -1.7%
- 2017 Buy
- 2016 Under Sell then Buy 1/2 on 4/13 @17908.28 (NOT a bear market), then Sell 1/2 on 6/24 @17400.75, then Re-Buy 1/2 on 8/11 @18613.52.
- 2015 Buy then Sell 1/2 on 8/21 @16459.75 then re-Buy on 10/17 @16912.29, then Sell 1/2 on 12/11 @17265.21
- 2014 Buy
- 2013 Buy then Sell 1/2 on 6/20 @14758.32 then re-Buy on 7/18 @15548.54
- 2012 Buy then Sell 1/2 on 6/1 @12118.15 then re-Buy on 6/29 @12880.09, then Sell 1/2 on 11/7 @12932.73
- 2011 Buy then Sell 1/2 on 8/2 @11866.62 then re-Buy on 8/29 @11539.25, then Sell 1/2 on 10/3 @10655.30 then re-Buy on 10/27 @12208.55
- 2010 Buy then Sell 1/2 on 7/30 @9774.02 then re-Buy on 9/20 @10753.62
- 2009 Buy then Sell 2/2, 2/19, and 2/23 @ average of 7467.78 then re-Buy 3/26 and 4/2 @7445.53
- 2008 Under Sell, Buy 10/7, 11/26, and 12/8 @ average of 9138.75 (would have been 9027.77 if had followed rules strictly and not imparted “prudence”)
- 2007 Buy then Sell 8/14
- 2006 Buy then Sell 1/2 7@11013.18 then re-Buy 10@11947.70 takes 4.3% from total =+10.6%
- 2005 Buy
- 2004 Buy then Sell 1/4 8/5@9963.03 then re-Buy 11/21@10489.42 takes 1.3% from total =+4.0%
- 2003 Buy then Sell 1/2 1/24@8131.01 then re-Buy 5/2@8582.68 takes -5.3% from 28.3% gain=23.0%
- 2002 Buy then Sell 6/25-7/3@8970.01 lost 9.9%, then Buy 7/19-11/5@8214.00 gained 5.4% w/div/int less D.T.loss on 1/6th of 2.3%
- 2001 Buy then Sell all 3/16-23@9717.20, Buy 2/3 4/6-5/7@10342.80 then Buy final 1/3 11/8@9587.52 total loss after div/int= -7.0
- 2000 Buy
- 1999 Buy then Sell all 8/30-9/26@10616.36 and Buy back 12/3@11286.18- 5.8% from +26.7% gain=20.9%
- 1998 Buy then Sell all 8/4-27@8326.2=+5.4% Buy back all 8/31-11/5@8227.27=+11.9% totals+17.9%
- 1997 Buy
- 1996 Buy
- 1995 Buy 1/2 then other 1/2 2/22/95@3973.05=+33.1w/div&int, average 34.5%
- 1994 Buy then Sell 1/2 6/20@3741.90=+1.3div, then 2.8%int=4.1% on 1/2 & 4.8% on original
- 1993 Buy
- 1992 Buy
- 1991 Buy 2/3 then Buy 1/3 1/25@2659.41, ave:2626.90
- 1990 Buy 1/2 then Buy other 1/2 6/4@2935.19 & Sell 1/2 8/3@2809.65= -1.0%inc div+int, then Buy back 1/6th 12/5@2610.40
- 1989 Buy then Sell 1/2 10/13@2569.26=+19.8+3.2div+1.8int, & +30.7 on original = +27.8
- 1988 Buy 2/3 (+15.5%) then Buy 1/3 1/7-2/29-3/16@2062(+4.0+3.1%)=+12.7%
- 1987 Buy then Sell 10/15-16@2300.91=+22.3%w/div, then Buyback 2/3 10/19-12-3@1748.00=+15.7%w/div+int of+3.4% totals
- 1986 Buy
- 1985 Buy
- 1984 Buy then Sell 2/22/84@1134.21= -8.5% then STI Buy back 8/21/84@1239.73= -3.3%, + money mkt&div.
- 1983 Buy
- 1982 Under Sell, then STI Buy 8/23@891.17=16.9%w/div+7.3mosx12.2% money mkt (7.4%)=24.3%
- 1981 Buy then Sell 7/2-8/31@920.33= -5.4%less div of +3.0+ 5 mos.money mkt int=+7%, totals+4.4%
- 1980 Under Sell, then Buy 5/13-6/11@844.80=+18.0% & 5 mos.of 12.8% int.on money market funds
- 1979 Under Sell so don’t Buy, earn 11% in money market
- 1978 Under Sell, then STI Buy 4/17@810.12, and then Sell 10/19-26@833.76=+5.9%+3.5% int. on money mkt
- 1977 Buy then Sell 10/24-31@810.34= 1% less than holding= -10.8%
- 1976 Buy
- 1975 Buy
- 1974 Under Sell, then Buy 6/23-9/30-11/4/74@666.07= -5.0% add yld +6.1=+1.1%
- 1973 Buy then Sell 2/23-3/23/@941.00, then STI Buy 10/22/@960.57= -2%, then Sell 11/20/@844.90 = -1.2% totals -3.2 & -12.3%= -15.5%
- 1972 Buy 1/2, then Buy rest 2/10@921.28=+15.2% on 1/2, original +17.8%
- 1971 Buy then Sell 1/2 7/28@872.01+5.0%+3.5div/int=8.5% on 1/2, 9.6% on other 1/2
- 1970 Buy 1/2 and Sell 1/260@768.88, then Buy back 5/25-8/24@700.47=+16.5%w/int/div on 1/2, original + 8.6%
- 1969 Buy then Sell 2/25&3/7@905.49, then Buy 1/2 10/27/68@860.28gains+5.0%of -11.0= -6%
- 1968 Buy 1/2 and Sell 1/22/68@871.71, then STI Buy 4/11/68@905.69=+.7 on 1/2 makes ave +4.2%
- 1967 Buy then Sell 1/2 10/24/67@888.18 gains 16.2%, original +18.5%, total 17.3%
- 1966 Buy then Sell 5/2&5/5/66@915.86 loses 5.5% and Buy back STI 12/27/66@792.20 loses .7= -6.2+4.1= -2.1
- 1965 Buy
- 1964 Buy
- 1963 Buy
- 1962 Buy then Sell 4/26 & 5/10@662.96 loses -7.3% and Buy back 6/22-11/9-14/62@582.40 gains+13.5%=+5.2%
- 1961 Buy
- 1960 Buy only 1/2 then Sell 3/3/60@612.50 loses -9.3% on 1/2 & -5.9% on original
- 1959 Buy then Sell 1/2 11/12/59@644.26 gains 12.2% + 2.5% yield=14.7% on 1/2 &19.5%on half
- 1958 Under Sell, STI Buy 5/2-5/58@460.34 gains 29.7%w/div+int
- 1957 Buy only 1/2 then Sell 10/7/57@452.42 loses -4.2% on 1/2, & -7.8 on 1/2= –6%
- 1956 Buy then Sell 1/2 8/20/56@511.24 gains 5.2+3.0%=8.2% on half & 6.9% on half=7.5%
- 1955 Buy
- 1954 Buy 1/19-25/54@289.34 (if not in from before data began)
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