Top Market Timer Don Wolanchuk Calls for Dow Jones 40,000 and $20+ Crude Oil
SARASOTA, Fla., March 18 /PRNewswire/ -- In a StockHouse.com feature interview fourteen-time ''Timer of the Year'' winner (Timer Digest), Don Wolanchuk, announced the current 3rd Fibonacci wave will take the DJIA to 16,600, but that isn't where the DJIA will top out. Wolanchuk claims the Dow could reach between 40,000 and 60,000 by Wave 5. Wave theorist Wolanchuk also told StockHouse.com that Crude Oil will rally to ''above $20 a barrel.'' Said Wolanchuk, ''We put on a position and (will) just ride it like a bucking bronco and it's gonna buck back and forth all the way up to above $20.''
Wolanchuk explained the fundamental reason for a soaring DJIA is that the Chinese and Russian economies will fuel the worldwide explosion of free enterprise, with people emerging from the socialist/communist order and becoming millions of big spending capitalists. Wolanchuk told StockHouse, ''With a worldwide economic boom of monster proportions, you're going to have a huge inflationary spiral.''
Wolanchuk explained the rise in crude oil prices because of the emergence of ''gas-guzzler-yuppie-assault vehicles'' (SUVs), which will increase demand for gasoline and make it more expensive. StockHouse interviewer, Steve Stathos, commented on the Wolanchuk interview, ''If this guy wasn't so right, so often, one would think he was nuts. Wolanchuk is the quintessential contrarian with an impressive track record.''
View the interview online at stockhouse.com
StockHouse Media Corporation is a leading Internet financial media information service company providing breaking news about North American stocks via their Internet publication, StockHouse.com. With nearly one-half million visitors per month, StockHouse has emerged as a leading online global financial-content provider. A subsidiary, StockHouse Canada, is the #1 Canadian financial web site, where an estimated 10% of Canadian online investors conduct investment research. StockHouse maintains offices in the United States, Canada and Australia.
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