Friday, July 24, 2009

Dow 10,000?

by Derek Thompson

The Dow pushed past 9000 yesterday to close at an eight-month high. This was just two days after notching a seventh consecutive winning session for only the fourth time in the last 20 years. What does it all mean? Truly, I haven't the slightest clue. If I did, I'd find a way to market that kind of clairvoyance for a seven-figure salary on Wall Street and pool half my earnings into daily sports betting. Instead, as a mere blogger, all I have is analysis. So let's ask: Should investors prepare themselves for a 5-digit Dow?

Almost everybody I can find seems to say: Don't expect the rally to continue in the short-term. Indeed today, the markets have taken a hit with Microsoft announcing its second down quarter in a row. Here's short survey of analysts' advice: (read more)

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