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Strategies & Market Trends : Roger's 1998 Short Picks
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To: clochard who wrote (5474)3/24/1998 10:30:00 PM
From: larry  Read Replies (2) of 18691
 
I remember that six weeks ago I was arguing with Roger that DOW was set to test 9000 before summer...However, no one really was that serious about that. Now I think that it's serious time to predict that the Titanic will race to 10000 within a year, maybe even sometime by this fall.

It was not long ago that people were arguing that the DOW will first see 6000, then 9000. The shorts are massacred by this insane bullish market. I think that when a market can go as insane and out of control as this (read: missing quarters mean strong rally in the near term, no earnings means safe haven, some internet stocks can sell at 8000 forward P/E, etc), it is destined for a big correction. No one knows when the correction will come. Maybe we will first see 10000 and then a 15% correction.

But if the lousy earnings pick up sharply in the second half of this year, that will be a totally different story. Then the DOW is set to finish above 10000 by the end of the year.
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