Tuesday, September 16, 2008
How low can we go?
Yesterday’s free fall on Wall Street was just like I predicted it. Before the market opened, the futures pegged the Dow Jones down 300 points. I announced 500 points to my spouse and we ended up beyond that huge markdown. Now, what’s going to happen next? In my view, we haven’t seen the bottom yet. As to how much and when, I would say that the market will hit its lowest point somewhere between mid-October and mid February 2009, and when it does, it will sink below 10,000 points; only then, will it be okay to re-enter the equity market. How do I know all that? Just good male intuition if such substance really exists!
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