Another Freaky Similarity Between 2011 And 2008

Remember a few days ago we noted how the market closed on October 3, 2011 at 1099.23, the exact same level it did on October 3, 2008.

Well, there’s now a second freaky similarity to 2008: A massive Columbus Day rally.

Yesterday markets surged by 3.4%. In 2008, on the same day, amid the same talk of bailouts, etc., the market surged by a staggering 11%.

Here’s a great chart of Columbus Day performance via ZeroHedge.

chart

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