Sunday, 26 October 2008

Dow Average May Sink to 5,000, Boockvar Says: Chart of the Day

The Dow Jones Industrial Average may sink as low as 5,000 next year, a 41 percent decline from its current level, according to Peter Boockvar of Miller Tabak & Co.

``The market's going to overshoot on the downside,'' Boockvar said in a Bloomberg Radio interview yesterday. ``When that occurs, I'll be a raging bull.''
http://www.bloomberg.com/apps/news?pid=20601213&sid=aJdYOvf5POhQ&refer=home

The Dow could fall lower since many US economic figures are cooked. When things disintegrate, the damage will be worse than predicted. This 5000 figure could easily be breached.

[Posted at the SpookyWeather blog, October 26th, 2008.]

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