Monday, February 16, 2009

DOW 6,000 this week?

Futures are pointing towards a much lower for tomorrow.

DOW futures are currently down 103 and S&P futures are down 13.

Is it possible we might see a retest of the Nov 2008, 7,400 levels later this week? Could we even fall through 7,200 last seen in 2002 - seven years ago? Personally, I think it's quite possible - even plausible.

Peter Navarro, Ph.D., believes we may even see 6,000: THIS WEEK: DOW 6000?

Peter's CNBC Video: Is Dow 6,000 Possible?

The Dow dipping to 6,000 has gone from the unthinkable to the quite plausible. Debating what investors could expect to happen next, with Peter Navarro, University of California and Brent Wilsey, Wilsey Asset Management

So, just how far can the DOW fall? DOW Where's the Floor

DOW Daily Chart - click chart for better view

DOW Weekly Chart - click chart for better view

Best Regards

1 comment:

Anonymous said...

The dropping of the DOW came close to breaking through to another consistent low below 7300. 6000 was a bit of a stretch, but it appears that people are finally waking up to the DOW as a negative investment.

Large investors maybe actually going into Treasuries even though they pay no interest. They feel that the dollar is one of the only stable world currencies around and willing to just store their holdings in Treasuries.

Check out Charlie Rose interviewing Roubini with three other people on the panel: Fred Mishkin (he doesn't get it), Mark Zandi and Nina Easton. He is the only one really getting it.