The Dow is down triple digits . . . AGAIN.
If it remains down at the close, I think it will be due for a bounce, probably tomorrow. Long term, though, I think a 1,000 - 2,000 fall (from current levels) is coming. That's at a minimum. I don't know if we're going to the sub-7,000 levels the way we did in 2008, but I'm not going to rule that out, either.
Aug. 3, 2011, 12:10 p.m. EDT
U.S. stocks extend slide on slowdown data
By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) — U.S. stocks fell sharply Wednesday, extending a slide that could prove the longest in more than three decades for the Dow Jones Industrial Average, as worries about the recovery escalated.
“The market is more focused on the economy than anything else, and what we’ve been getting here is data that is slower,” said Stuart Freeman, chief equity strategist at Wells Fargo Advisors.
Extending its longest losing streak in roughly three years, the Dow industrials /quotes/zigman/627449/delayed DJIA -0.89% fell 102.82 points, or 0.9%, to 11,763.8. A lower close would be the blue-chip index’s ninth straight, its longest losing stretch since 1978.
The Standard & Poor’s Index /quotes/zigman/3870025 SPX -0.75% declined 9.38 points to 1,244.67, extending its losing streak into an eighth session.
Full story: http://www.marketwatch.com/story/us-stocks-struggle-after-economic-data-2011-08-03
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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