Wow, 224 new all-time lows. That’s the first time I have ever recorded anything over 200 since I have been keeping track way back almost exactly two years ago on March 18 2006. Usually when I have a high number of all-time lows (like a new record like this), it is often near a market bottom. What about this time? Or is this a real bear market? Are we to expect more record all-time lows on a continual basis? If I had to guess, I would stick with the pattern and say we are near a low point, but it is hard to fight a trend.
Here are a couple of ugly charts from the new all-time lows list:
RH Donnelley Corp. (RHD)

RHD publishes the yellow pages. Yeah, the actual book.
US Airways Group, Inc. (LCC)

My guess is the high fuel prices.

Man, what happened to BIDZ? Ouch. Everything looked absolutely perfect until those two fateful days at the end of November - new highs, nice earnings growth. And then WHAM! Just like that.

I guess this report by Citron Research was the cause.

Ouch. The one-time momentum stock, FMD, made a new all-time low yesterday.

Michelle called this one on November 13.

Ouch. The momentum stock, VMW, has lost its mojo and is down almost 50% this month.

Breaking through $75 is pretty serious. How low will she go?
To me, it looks like new all-time lows may be tested.

Here’s an ugly one: Levitt Corp. (LEV)

LEV was up over $15 per share earlier this year and recently traded as low as $2.01. A little over a month ago it was over $10. Ouch.
LEV “operates as a homebuilding and real estate development company in the southeastern United States.”

Here’s an ugly one: Cal-Maine Foods Inc. (CALM)

CALM is down over 30% in the last two days. What in the hell happened? Are egg prices cracking? Longs must be anything but calm at this point.

Now that the market seems to be gapping down over 1% every morning (and closing down 3%), maybe I can live up to my name and post some ugly charts. Here’s the first one, the iShares Russell 2000 Index (IWM):