Wednesday, October 04, 2006

DOW.TOUCH.12000.2006 ???

I've been jammed at work like never before, but was able to stop in the Pit today during the last hour of trading. My good friends fazz, drugtest, and skoal brother all helped me celebrate my call, exactly one year ago, that the Dow might touch 12000 sometime this year. Back then, it was trading at 10800, and there was some despair and many eager bears telling me how wrong I was and how the average would be trading past 9000 down below 8000. "Buy Gold" and "Sell America" many exclaimed.

Well, after Bernanke's third (and final) rate increase early this past summer, I had just about given up on that prediction. And now we can almost taste it!

Except for the extinct bears, that is.

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