Jim- In re: "... on the dow 30, I think BB may have said 8500, but
I know S&P 500 he said 1050. This was said on his radio talk show
a few weeks ago."
If memory serves, Brinker opined, during the weekend past, that any
market correction would not exceed a 10% downdraft from the highs.
According to Yahoo statistics, the DJIA recorded its recent high
at 9367; the S&P 500 at 1190. Therefore, a maximum 10% cor-
rection from those levels would yield 8430 for the DJIA and 1071
for the S&P 500. Parenthetically, as noted, Brinker also maintained
that the markets, as measured by the major averages, would seek
new highs "during summer or autumn."
Nota bene: Amendments or adjustments to the former scenario
outlined by Commander Brinker last weekend are welcome from
those whose recollections are sharper than mine. In particular, was
Brinker referring to the DJIA alone when he posited a maximal 10%
correction at this juncture?
Postscriptum: Welcome back to the thread, Bob Brinker, Jr.! |
