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Location: where you sip the tea of the breasts of the spinsters of Utica
8,297 posts, read 14,157,672 times
Reputation: 8105
Quote:
Originally Posted by goodbyehollywood
....So, call me an optimist, but Dow 2500 will never happen, not because it shouldn't but because it can't. There will be an unprecedented global intervention before the world's largest domino is allowed to fall. Dow 5000-- possibly, in time. Dow 6000-6500-- surely, and soon.
It wasn't all that long ago that we were down around 2500 .... that was last in 1991. And it was only about 8 years earlier from then that we were mostly under 1000.
Please note that the same people "guaranteeing" the market will hit 5,000 are the same people who "guaranteed" that gasoline would be $8 a gallon by January of '09....
-Money Game, written about the market of the 60's. A good book to deprogram yourself from todays 24/7 media stock cheerleading. Notice all the hot companies in the book (hot sectors like bowling, airlines, etc). Xerox, Polaroid, those were the mighty giants.
Will make you think twice about blue chip investing. Glad I didnt buy dell, microsoft, cisco.
-Anything by Jim Rogers (Investment Biker). He gives the big picture. Points out obvious truths, like...."the idea that central bankers are gods who can weave magic has only happened in the last 10 years". The DOW bubble was just a little spec of history.
I have zero investments in the S&P or Dow. Don't expect much for the next 5-10 years.
I think everyone that bought after the greenspan bubble years of 94/95/96, will be flat for 15 or 20 years, and sell in disgust at the end. Similar to other investor patterns from the 20's to 40's/50's....60's to early 80's. Japan, 80's to now.
Oh, please. This recession started way before Obama came into office. He's just inherited the mess.
Thanks for this response. It's amazing how easily rumors and myths get started. It's just sour people who can't get over having a Black for President posting nonsense. I am no fan of Obama, but blaming him for the stock market decline is laughable at best.
The DOW began its decline from 14,000 long before Obama took office. Has anyone forgotten that? Anybody who actually trades stocks would understand the progression of a market cycle.
Unfortunately, here we are dealing with internet armchair experts who probably have never traded stocks before.
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