Retailers falling apart. Many warning of lower numbers
DOW flirting with 10k, now 10063
Message 20884067
To: scottonstocks who wrote (7502) 12/23/2004 11:54:04 AM
From: scottonstocks Read Replies (3) of 8152
DOW 10848 may continue to rise on momentum the last week of the year.
But when you look at the 1 yr chart, you see how quickly it found lower lows on 4 occasions. The only thing that saved it from five was the Bush relief rally, which we are riding the last of now.
But the Bush reality rainstorm will kill the DOW next year.
Inflation, rising rates, lower home values, Iraq, Bush's declining popularity home and abroad-if it could go lower than zero-, consumer confidence, jobs, the dollar, and a snowball effect will find a fifth low for the DOW, 9700-9750 sometime 2nd- 3rd qtr.
Retail shorts will prosper, and many other sectors
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