the next dow benchmark

Discussion in 'Stock Market' started by wimpy77, Mar 19, 2009.

  1. wimpy77
    Offline

    wimpy77 Member

    Joined:
    Jan 21, 2009
    Messages:
    591
    Thanks Received:
    10
    Trophy Points:
    16
    Ratings:
    +10
    from what i have read and watched today the consensus is the market will pull back especially concerning financials. if it does start retracing its gains how low? 300 or 400?
     
  2. DavidS
    Offline

    DavidS Anti-Tea Party Member

    Joined:
    Sep 7, 2008
    Messages:
    9,811
    Thanks Received:
    766
    Trophy Points:
    48
    Location:
    New York, NY
    Ratings:
    +767
    We had a rally... a big rally. Too big of a rally. Too quick, too fast. There isn't a plethora of good news out there. I say we go back down to 7000 and float in between 7000 and 7500 for a couple of weeks or so. If unemployment starts to hit a wall and doesn't grow, then we could see a rally.
     
  3. wimpy77
    Offline

    wimpy77 Member

    Joined:
    Jan 21, 2009
    Messages:
    591
    Thanks Received:
    10
    Trophy Points:
    16
    Ratings:
    +10
    so you dont think sub 7000 again
     
  4. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,465
    Thanks Received:
    4,838
    Trophy Points:
    1,130
    Ratings:
    +15,238
    I definitely see it going under 7000. I see no reason why there would be support at that level right now. This is a bear market rally. There's been almost zero news that indicates we're coming out of the recession. I actually have to agree with Dave, we have no reason to be excited until we start seeing job losses at least leveling off.

    If you really want to put a substantial amount of money into equities, pick companies with healthy balance sheets that are still generating revenue during the recession. If you liked a healthy company at $30, why wouldn't you still like them at $20, or even $10? If they can weather the recession, they're a cash cow long term.
     
    Last edited: Mar 20, 2009

Share This Page