A couple weeks ago, I (privately) said that if the Dow punched through 10,000, there was absolutely nothing stopping it from going down to about 8600. And we’ve now dropped below 8600. I was thinking of more-or-less a 20 year chart. If we go higher from here, I think it will head right back to the mid 10k range. If it goes lower, something around 7500. In the extremely unlikely possibility that the Dow should break below about 7300, there is absolutely nothing stopping it before 4000. However, that would require financial carnage including complete collapse of Dow components — without Dow Jones changing the rules by subbing a more viable player.
By way of disclaimer, this is not financial advice. My ideas are little more than the office football pool of the stock market.
In closing: why did it take two months to arrest this drunken nutcase?; if you are still somehow confused about the candidate’s issues, MahaBarbara has links for you; support your local animal shelter; the Treasury Department is considering taking an “ownership stake” in banks, and the thing that bothers me is that they even want to own a peice of healthy banks (um yeah, which party are the “socialists” again?); and a couple things about illegal immigration. Now on one hand, I don’t know what to make of these big public raids. Can you prove you are a citizen with stuff you normally keep in your pockets? More to the point, they never seem to arrest any company officials who hire these illegal workers. And it is true that legal immigration is a broken system that needs fixing — and temporarily doubling the INS staff to work backlog if necessary. But what we will find if we are able to get that done is that the employers who are currently “forced” to hire illegal workers will continue to find cheap, easily exploited sources of labor until such time as they are held accountable to laws already on the books.
Goodnight!
Great! Now I won’t be able to take my “pre-torn” strips of tape on the plane…