Have no fear 11,000 is near, so says this "portfolio manager"!!!!!!

Discussion in 'Wall St. News' started by S2007S, Oct 13, 2009.

  1. S2007S


    And the predictions continue to move higher and higher.

    Dow at 11,000 by Year End: Portfolio Manager
    Published: Tuesday, 13 Oct 2009 | 1:37 PM ET
    By: JeeYeon Park
    CNBC News Associate

    Investors are keeping their eyes on earnings and Dow 10,000—so what does it mean for your portfolio and how should you position yourself now? Jim Lacamp, portfolio manager and advisor at Macroportfolio Advisors, and Craig Peckham, equity trading strategist at Jefferies & Co., weighed in.

    “For those investors who are looking for ways to participate in the upside from inflation globally, equities are a logical starting point,” Peckham told CNBC.

    Peckham said he expects positive earnings results over the next few weeks, and more companies will report positive revenue surprises.

    In the meantime, Lacamp said the Dow will reach 11,000 by year-end, but underscored that breaking into new highs on volume is more important for the market.

    “I don’t think [Dow] 10,000 is technically significant,” he said.

    “We’ve been looking at 10,000 as a psychological barrier but really we’re watching the volume and the leaders have been good. We haven’t seen any signs of a break in the market yet.”
  2. the only reason im seeing is inflation. i heard some fund mangers don't want to reenter because they don't want to jinx their 70% or so performance.
  3. What you are getting so wound up about is nothing new. Wall St. works like that. They are selling a ponzi scheme and the higher the market flies the more they try to sell it. That's their business.

    This book has been published in the 1950s (during a rip roaring bullmarket), all this is nothing new. No need to be bitter about it.

  4. Lorenzo


    10k?...An optical illusion...

  5. AK100


    A portfolio manager saying 'now is a good time to buy'.

    Who'd have thought that......