DOW 10,000 by January 2010 . . .
Everyone turned chicken today? No doubt we were due for a classic sell the news event after the bank stress test announcement was bid into for over a month.
I will boldly go where no man has gone before....
Dow 10,000 very soon indeed, before January 2010 to be precise. That's another 20%+ price appreciation from throwing darts on the long side the next 7 months, and a decent 60%+ gain from the March lows, when including dividends, for anyone willing to fight for themselves, their families and their country.
By the way, a new uptick rule for short selling will be unveiled in a matter of weeks, the global economy is turning higher this summer, banks and real estate companies are raising hundreds of billions in equity and refinancing their debt to successfully recapitalize, and the greatest motherlode of cash (earning zero percent) in human history is still waiting on the sidelines to buy stocks the next 6-12 months. That wall of worry seems mighty steep this economic cycle from all the freaked-out bear commentary I hear on CNBC and my local tv station, and read in my local paper, on any and every mainstream stock market website and from all the winners on CAPS in early 2009, but heck I like challenges.
The vast majority of market timers on CAPS are bears right now, something like 4 to 1 by my count. The market never obliges the herd for long spans of time. From my perch in Virginia I would say buy any and all dips from here, both as a truly contrarian strategy vs. the herd predicting another big sell-off the next month or two (or just desiring one because they have missed the biggest bull upturn in modern history), and because you believe in America.
Let's now here comments from the peanut gallery >>>>>