Getting "Safer" To Say What You Think
Big Picture had a video, well, the title of the post says it all,
Louise Yamada: Dow 10,000, SPX 1,175, Nasdaq 2,000
I went all red thumbs in CAPS in the fall thinking I needed to see the Dow back in the 10,000 range before going back to out performs, and 9000 Dow wouldn't surprise me.
What's interesting to me is although I stated my expectations privately to a few friends, I'd have never done a blog on it. At that time it would open you up so wide for unwanted comments. I think we are on a 2-4 year downward trend with mini-rallies like the one we saw from March, but overall the trend until the market finishes correcting is downward.
And I think the downward correction is based on fundamentals and over valuation due to irresponsible fiscal policy and money made too easy by artifically too low rates. I think we are going into the era where we find the low rates are not sustainable and they create illusionary profits and well-being.
Not seeing Dow 9000 would surprise me, but the "rules" do change, say the fed really start printing money rather than increasing money supply through monetary policy of artificially low rates, then I might be changing my expectations. But without willful destruction of the monetary system with the printing press I expect to see Dow 9000. I am sure many see using the printing press as a sure thing, but I don't at this point.