Bob Brinker has confirmed his target of 1600 for the S&P next year and if it should fall to 1400 in the meantime its a buy.
When I wrote my post earlier in this thread, I had thought his prediction was for Dow. It is in fact for the S&P. My mistake. In this case though, I'd say the S&P could turn bear down to 1100-900, but I highly doubt it will happen as fast as the drop in 2000, which in turn would make it less likely to drop as far as in 2000... Dow = down 25% MAX; S&P = down 30% MAX; NASDAQ = down 35% MAX; RSX = ^30% I'm slightly bull by nature that's bearish for Q1 2008, and I still say 40% is retarded. It's almost like saying by NOT using E85 ethanol, the earth is going to explode like the death star by next year... ...seriously, that's at least three years away...
Who cares down 40-50% up 15-50% all we need is movement let the market dictate to us what it wants to do, you will always be a looser in the markets trying to force an opinion on the direction up or down just go with the path of least resistance As for Dave Tice he would love the markets to be down 70% I myself can't belive how strong the markets have been however anyone give any thought where we are in real dollar terms OK we are down, the market has to keep rising just to stay at par with the dollar Just food for thought
Tice sure nailed that Tyco/Kozlowski call on the head & stood by it......while Kozlowski, DLJ & cnbc were busy doing damage control to the masses. i equate Tice/Shiff extreme to the 1000`s of always bullish extremists out there..............except the permabears get a slap in the face while the permabullshitters get a pat on the back. i believe it`s neccasary to have balance in the media.....eventhough 2 vs. 1000`s is not really balanced.
He might be a bit right but stocks are still going up due to inflation. So in real terms they go down. Sort of like everyone thinking they've made a tonne of cash on their property. You sure about that because if you bought a house for $100k and it's now worth $200k the bigger house you want to move into (which cost $200k when you bought yours for $100k) is now worth $400k so it costs your double you moron to move up the property ladder. And there you are thinking how much money you've made when all you've done is track house price inflation. So if you want to move up the property ladder at some time in the future then what you really want is to lose a crap load of money on your present property. Funny how only about 5% of the market look at it like that while the other 95% keep boasting to their friends how much their house/condo is now worth. Of course though there have been some real winners in the property game, those who rode it up and sold in say LA and then moved to Cleveland or some other area which hasn't/didn't move that much.
Isn't Tice being bearish about as rare as Abbey Cohen being bullish or Bob Prechter being bearish? Who cares what this guy thinks.
Wasn't Tice the same guy that said in March of this year how he was never more confident with his short positions and went all in short because he "felt" the market was ready to crash 40%? LMAO