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Old February 22nd, 2009, 12:17 AM   #1
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DOW at 6 year low- how low will it go?

Notice that with Obama's socialist talk and the horrible stimulus plan, the DOW has hit a new 6-year low. How low do you think it will go before it bounces back? Personally, I am not very optimistic on the outlook of the markets as Obama will probably just continue his socialist pandering, which will continue to kill the markets. I think we will be in the 6ks some time in 2009.
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Old February 22nd, 2009, 12:46 PM   #2
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No real idea on the Dow. There's been some nice spots of recovery on the market in the less cyclical areas and they've been the areas I've look at.

So much of the problem comes from the ripple effects. The economy is down, so oil is down, so oil companies are down, so the energy sector is down, etc. If/when the banks stabilize and capital starts flowing back to the tech sectors, we should see it level out and recover a good bit.
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Old February 22nd, 2009, 01:34 PM   #3
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Right now you cant look at traditional support levels because it has broken through most of them. When I see companies like Cisco at below 10 bucks that has to be a screaming buy. If you look at downturns in the market ,traditionally people have made lots of money getting in at close to or near the bottoms, but the question is where is the bottom at.
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