The bear is back in control of the Dow
Source: http://blogs.moneyandmarkets.com/blog/real-wealth/0/0/the-bear-is-back-in-control-of-the-dowPosted on Wednesday, July 9th, 2008 | In Asia, Current Market News
The Dow has been hit hard with selling, breaking through the key 11,600 support level I’ve been warning about. I said that once the Dow breaks 11,600, the bear is back in control and much lower prices are to come. That means U.S. stocks, and by default the U.S. economy, are going over the cliff.
How low will it go? We need more fear in the market before a bottom comes and I see the Dow dropping to as low as 9,200 before a turnaround starts to take hold.
Of course, it won’t be a straight-down affair. There will be a lot of fake-out moves and with all the uncertainty out there, there will be a lot of volatility. The economic news is not good, and a lot of investors are very, very nervous, and rightfully so.
What should you do? Be cautious. Stick to plays in natural resources and make sure your gold portfolio is up to snuff.
Last 5 posts by Larry Edelson
- Chinese Researchers Confident of 8% Growth - January 7th, 2009
- China Accelerates Filling Up Its Oil Reserves - January 7th, 2009
- Cautiously, Steelmakers Raise Prices, Reopen Mills - January 7th, 2009
- Dollar’s fall last week is exactly what I’ve been warning about! - December 15th, 2008
- Real values ... real opportunities ... and real money ... - December 12th, 2008
Asia, Control, Current Market News, dow, economic news, economy, Fear, Gold Portfolio, investors, Lot, Natural Resources, Plays, Snuff, stocks, Turnaround, Uncertainty, volatility
 About Larry Edelson (http://blogs.moneyandmarkets.com/blog/real-wealth)
With nearly three decades of experience in precious metals and natural resources markets, Larry Edelson has played a pivotal role in training Weiss Research staff and in guiding Weiss Research’s customers to prudent investments in the sector. His Real Wealth Report, Gold Trader Hotline and Energy Options Alert provide a continuing education on natural resource investments, with recommendations aiming for both profit and risk management. His team of technical analysts helps enhance the timing of investment recommendations with the aim of continually improving the performance results for investors. Mr. Edelson is also a regular contributor to the daily e-letter, Money and Markets. Recognized as an expert in precious metals and natural resources, he is often called upon by the media for his investing views. Mr. Edelson has been featured on Bloomberg, Reuters, and CNBC as well as The New York Times, New York Sun, and Marketwatch.com Mr. Edelson holds a B.A. degree from Columbia University. |
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