I raised my target for the Dow to just over 12,000 in July and I still think that's doable. This is a very different animal. Buy the dips. |
I think quite often when you get to a round number you have a lot of anxiety. This backing off is healthy. It takes some of the enthusiasm out. |
I think that you are going to be flirting with that number back and forth. I think good traders, on the excitement, probably took some profits and I think that we will vacillate and move a lot higher. |
I think there are going to be a lot of bumps along the way, |
I think we could have a spillover effect. |
I'm trying to tell people now that 10,000 is no longer the ceiling. I think it's the floor for the market over the next 5 to 10 years. |
If you're a trader, I'd be concerned because you might be too late on some stocks, but if you're an investor, start to participate. And if you can't do it yourself, get a good mutual fund and have a long term view. This country, the stocks, corporate America, are going to go a lot higher over the next five to ten years. |
In technology, I think I would go with the big ones. I'd go with IBM ( IBM : Research , Estimates ). That would be my first pick in the technology area. |
In terms of the Dow, that's around 7,400-7,500, |
It looks like a falling knife. |
It's a stock specific environment, |
It's a wonderful market, |
It's been a great month. I think September will be fine. |
It's one thing to have a 257-point up day, ... What you really want to see is the following day when you see the upside follow-through, and that's what we're getting, and I think it puts people at ease. |
It's one thing to have a 257-point up day. What you really want to see is the following day when you see the upside follow-through, and that's what we're getting, and I think it puts people at ease. |