Will the Dow hit 10,000 this summer?
Answers
957 points
CUWu answered one year ago …
I don't think so Chuck...if it hits 10,000 we'll be in the middle of a pretty rough recession. That would be a 25% drop off the high -- that hasn't happened since the 2001 bubble pop. Summer should be relatively quiet. If we can make it to August without the bottom falling out, we should be ok.
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4085 points
EthanR answered one year ago …
I agree with CUWu. There is a lot of support for the DOW between 11,800 and 12,400. Resistance is at 1300. I can see it vacillating between those levels. But if we take out 11,800, then we are definitely going lower. Just not convinced that we are going as low as 10,000.
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3963 points
MNSL answered one year ago …
I agree with both EthanR and CUWu. Very soon US dollar will appreciate against most currencies such as NZD, YEN, EURO, and POUND. Even it will appreciate against AUD. In the meantime demand for commodity will come down and we will see collapse of commodity market very soon.
Finally we will see stock market rally towards end of this year in the USA and in some other countries.
This is the time to do research and identify investments in all types of markets to get above average returns.
106 points
bdanaher17 answered one year ago …
Of course the economy is on a long term inflation trend and prices will continue to rise and hurt most industries while a chosen few continue to progress.
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139 points
Redsky answered one year ago …
I like MNSL's optimistic view, this is the right way to go.
I'd like to add something that I heard and was very convincing: better to start positioning yourself now, even buy if you can because you'll never know that the bear market has ended.
Generally, bear markets are usually much shorter than bull markets.
678 points
BoxCar answered one year ago …
Back in 1990 I saw Steve Jobs license plate- it read [10Kx2K]
Wonder what his license plate reads today? [10Kx10]?
