Lowbar

DOWn Doobie Doo Down Down

Today CNBC.com asked in an online poll when we think the Dow will reach 10,000. The available answers were this week, next week, this month and this year. Notice there wasn't a "not in my lifetime". Why CNBC is perpetually bullish is beyond me. I suppose they wouldn't have any viewers if the stock market truly tanked.

Here's how I would have posed the question: "Will the stock market stay in the 10,000 range or will it continue the downward slope it started last year?" Answer: It'll continue the tank-a-thon.

Here's what's going to happen. This current upward shoot is nearing its apex. The year will end below 9,000. By the middle of next year, say July, the Dow will be at 5,500.

posted by Howie Hardcore @ 10/12/2009 04:49:00 PM