URL: zacks.com
FEATURED EXPERT: Jack Schannep
07-NOV-06
Jack Schannep, editor of the Schannep Timing Indicator newsletter, says a 25% rise from here just does not seem to be in the cards given the extended economic recovery and extended bull market we have already had. However, this featured expert does see such a jump for the Dow eventually. Check out his latest commentary.
BOTTOM LINE: from November 1
Jack Schannep, who deals in Spiders (SPY), Diamonds (DIA) and the iShares NYSE Composite Index (NYC), explains that the bull market continues to “chug along” in the face of the double threats of terrorism and recession, that’s commonly called “climbing a wall of worry”.
If there were nothing to worry about the market would be at 16,000 or thereabouts, and one day it will be, but in the meantime expect a bear market and recession to occur first.
A 25% rise from here just does not seem to be in the cards given the extended economic recovery and extended bull market we have already had. Schannep and his team’s “Three Tops and a Tumble” are still in play with the Yield curve inverted most of this year, Consumer Confidence and NYSE Volume both having topped, so far at least, several months ago.
Yes, the market can continue its climb as those who doubt history keep the “pot boiling”. |
