Although many of the votes were registered before the bottom began to disappear from the Dow last week, the majority still favors a strong close for the year.
Some 52 percent believe it will close at or above 13,500. The results as of Wednesday, Jan. 23 are:
Over 15,000 (30) 9%
14,500 – 15,000 (36) 11%
14,000 – 14,500 (50) 15%
13,500 – 14,000 (55) 17%
13,000 – 13,500 (29) 9%
12,500 – 13,000 (16) 5%
12,000 – 12,500 (21) 6%
11,500 – 12,000 (19) 6%
11,000 – 11,500 (12) 3%
Under 11,000 (46) 14%
Total Votes: 314
Comments from some of the readers included:
Posted by Wag on Jan. 23:
It depends on how long the gov’t will continue propping up the economy with bailouts provided by taxing the middle class, or how long the upcoming manipulations will last after the elections are over. Bailouts being talked about will continue to reward those who cheat, lie and steal, sending the message that “crime always pays.” If the economy crashes after these efforts, it may go to about 9255. If terrorist attacks combined with the current unstable underpinnings, could go as low as 7600. Remember, the crash of 1987 was by more than 30 percent.
Posted by Frank W. on Jan. 21:
All the recession talk is spurred on by the media. Because of the level of loan defaults, there is sure to be corrective action in the financial sector and other related sectors. I expect bargain hunters, like myself to come out shortly, possibly by Friday and buy up all these deals. The economy is strong! Don't be a chicken little!
Posted by David on Jan. 15:
Seems to me that good days r coming will be over 15,000.
Posted by Dave on Jan. 16:
I think it’s obvious that it depends on the investor’s skills in analysis the basic value of a company. Even if the times are rocky, a good company should be able to maintain profit growth and such, so I think it’s only something to be concerned about if one is naive of the fundamentals of business and the market.
Posted by Alfred on Jan. 10:
Judging from the unresolved subprime issues, the finance turbulence, the rising cost of doing business and the slow down in major part of sales, I have a premonition of a sharp market correction in very near future. Ben is in a difficult position to cut rates. Either way will not help much in this market situation.
Posted by Gregory on Jan. 1:
I believe that the Dow will touch 5,000 in 2008. Then rise to a range of 7,500.
Are we near the bottom?
That’s difficult to tell and we really won’t know until the market has truly bottomed and is on the way up again.
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