Dennis: I just saw Steve Check, the editor of Blue Chip Digest, on
the Business Channel. He's a conservative value investor and has
been very accurate in his past calls...when Philip Morris went down
to 45 and IBM went to 40 and Boeing went to 30, he said load up on
all of those and you'd make a fortune in a year or two. Sure enough,
all of those more than doubled plus dividends, and there were many
others that he called right, including a lot of the ones to avoid.
Here's his latest scenario on the Dow, and he says don't worry, this
is not a bear market coming, just a correction of over-valued stocks:
Fed raises short-term 1%, Dow goes up 5% over the next year; rates
don't change, Dow goes up 17%; rates go down 1% (unlikely) Dow goes
up 33%. He's not real hot on small-cap tech stocks, though, because
he doesn't believe in market-timing and those are too volatile to
call. Agreed on the money for the buying opportunities, but all my
tech stocks are down so much that I'm stuck with this portfolio for
awhile. Saw RAIN go by at 23 on the ticker just now, so it's not
hitting just tech but growth stocks in general. Well, we'll either
be rich by next year or else: where's the nearest soup kitchen? |
