SEL! SELL! SELL!!!!!!!!! Bear Market Confirmed! Goldman's Abby Cohen calls for S&P 500 Rising 14% by 2008'
Goldman's Cohen Sees S&P 500 Rising 14% by 2008's End
Abby Joseph Cohen was one of the most famous perma-bulls of the late 20th century. She was quoted everywhere. The market was going up. She kept predicting that it would go higher . . . even in 2000, after the tech stock collapse.
Now she says the S&P 500 will rise by 14% in 2008.
That is a bear market indicator -- not primary. She is always bullish. But it's a secondary indicator.
She stayed bullish on computer-related stocks for too long as the S&P 500 suffered a bear market from March 2000 to October 2002. Cohen said in October 2000 that technology shares would be a good investment in 2001. The S&P 500 Information Technology Index tumbled 26 percent that year. . . .
In December 2006, Cohen said the S&P 500 would climb to a record 1,550 this year. The index surpassed that level in July and went on to reach an all-time high of 1,565.15 in October. The S&P 500 then dropped 10.1 percent through Nov. 26, the steepest loss in four years.