You don't say where you got your figure--but 7500 is what I am reading by the "realist" economists.
I pulled it out of the sky to be honest. Just a gut feeling from watching the dow for years. I hope I am right as we are at an 11 year low now, just a shade above 7500.
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Those who say it cannot be done should not interrupt the people doing it. ~Chinese Proverb
When I was young and clever, I wanted to change the world. Now that I am older and wiser, I strive to change myself. ~
5600 +/- 200 points. Not being pessimistic, just trying to be a realist. The markets drop is not what we have to worry about, it's the Government meddling in the Banks, the Auto Industry, etc., etc., etc.
Some history I have read posits the idea that the Stock Market collapse of '29' did not cause the Great Depression it was Governmental intervention that caused it and kept it going longer than it should have.
Best to be prepared for the worst.
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Psa 119:165 (KJV) 165 Great peace have they which love thy law: and nothing shall offend them.
"Do not believe everthing you read on the internet" - Abe Lincoln
5600 +/- 200 points. Not being pessimistic, just trying to be a realist. The markets drop is not what we have to worry about, it's the Government meddling in the Banks, the Auto Industry, etc., etc., etc.
Some history I have read posits the idea that the Stock Market collapse of '29' did not cause the Great Depression it was Governmental intervention that caused it and kept it going longer than it should have.
Best to be prepared for the worst.
I am very concerned about the government intervention. And with the lack of privacy because of the internet etc. In the wrong hands, things could be horrible.
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Those who say it cannot be done should not interrupt the people doing it. ~Chinese Proverb
When I was young and clever, I wanted to change the world. Now that I am older and wiser, I strive to change myself. ~
In 2000 (the last resession) the NYSE lost 43% of its value and the NASDAQ lost around 66% of its value and everyone seems to agree that this is going to be a harder recession.
the NYSE high is somewhere just over 14,000 so we are nearing that 50% mark now.
It should also be noted that the stock market tends to be a leading indicator. Meaning it will drop before the full effect of the recession hits and will also rebound before the rebound takes full effect in the wider economy.
I do think we are getting close to the bottom because most of the losses have been factored in for the financial sector and the housing sector. However, the retail season is going to be tuff on retailers and there is still some room on the down side for retail stocks.
__________________ If I do something stupid blame the Lortab!
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