I meant to post this last night after reading all the doom and gloom stories about the big downturns in Europe and Asia, but here's my prediction for Dow Jones, it'll close above 12,500 as of close this Friday.
On top of that, by the end of February it will be above 13,500 again.
A lot of stocks are getting caught up in the downward frenzy, even when there's no reason for people to be down on a particular company. That means there are big buying opportunities, and there are enough buyers who will see bargains and take them. Some stocks will lose big over the next 6 weeks (based on the fundamentals of that company's business situation), but many more stocks will go up by 10% or more.
After plunging 400 points at opening, looks like the market may close about even or maybe even higher by the end of the day (there's even a chance for triple digit gains if the current trend continues). Best to ignore days like this and remember that the market is best thought of as a 20 year play, rather than short term gamble. If you want to lose your money on short term risks, then nothing beats sports betting, trying to time the market can only lead to trouble.
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