re: Yesterday's post #34240
I dodged a bullet in my career as a psychic. Yesterday I wrote, "If it remains down at the close, I think it will be due for a bounce, probably tomorrow."
I'd have been eating crow right now, except that the market had its first UP day in more than a week yesterday, rising a scant 30 points. (it was down nearly 200 when I posted.)
As is now obvious, the Dow will *not* be bouncing today. It's down 326, and I'm just wondering what will happen over the next two hours. *MOST* of the time, the market comes back strong in the final two hours when it's had a day like this. This time, I'm not so sure.
In any case, I am standing by the second part of my post: "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."
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