Last Monday 10/06/08 I blogged about DOW 9000 next March, and marked 8000 as a low around December. No one can time it perfect, especially me. Friday 10/10/08 the dow hit a low of 7882.51 and a high 8901.28 with a close of 8,451.19. Since only a week has went by and the low I called at 8000 hit Friday, it may be close to a bottom.
Watch the DOW this week if it closes below 8000 I'm changing the low to 6000. The good news is THE POST INDUSTRIAL STONE AGE is now delayed by about 5-10 years. That will give the world time to switch from PETRO(GAS) to alternatives. What happened to "DOW 36,000" James K Glassman predicted? I read that book as soon as it came out (1999). I think the "END OF SUBURBIA" was a better book.
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It doesn't surprise me that the market dropped.I have been expecting it. The people at the top (CEO) are without scruples or concern for America. Their poor business ethics are proof of greed and shows that they got theirs and screw everybody else. Maybe they should stay at the spa, permanently. What really gets me is how does GM have the balls to ask for help. Where did they expect the American people to come up with the money to buy their overpriced cars much less bail them out when they have sent so many jobs over the borders and overseas. Send them to China and to Mexico. Let the $5.00 a day mexicans bail them out.
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