Wall Street will have its five stages of grief

That’s how Jim Jubak breaks out the next 12-18 months on Wall Street.

His five stages?
• An early rally, starting now;
• The rally falters and ends in early 2009 (Read the story for possible reasons why;
• Deepening pessimism by mid-2009;
• A new bottom at the end of 2009, as Jubak expects the world’s central banks will be withdrawing money from the system around this time.
• Recovery, theoretically deeper and sounder, in 2010 and beyond.

That sounds about right to me.

Jubak has a few investment tips with the story, and promises more in two upcoming columns. Stay tuned.