The Single Best Investment EVER

Monday, October 06, 2008 | 10:30 AM

Dowdownlarge

It is those "Dow 10,000" hats CNBC got for all the on air anchors way back in 1999. They sure got a whole lot of use out of them.

The Dow is 9,868 as I type this.

GE breaks syndicate price of $22.20 secondary, and its now off by a full 10% -- at $19.95.

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Dow Industrials, 10 YearsDow_10_years_2

Chart courtesy of FusionIQ, Bloomberg

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As to forecasting forward from here, there are simply too many unknowns and moving parts to say anything with a high degree of confidence.  A lot depends upon the govt response to the credit crisis, to the recession, and other elements

We could theoretically find support between 9,500-9800, or we could see the bottom drop out any day now

With the VIX now over 50 -- the Dow is now off 30% In one year -- I would imagine we are closer to the bottom than to the top.



Monday, October 06, 2008 | 10:30 AM | Permalink | Comments (72) | TrackBack (0)
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Looks like, where the VIX is concerned, 60 is the new 40.

Posted by: D.L. | Oct 6, 2008 10:31:52 AM

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