Did the Wall Street Journal scare you out of the market with that DOW 5000 cover? Sucker!
After an 11% three-day pop, the DOW’s over 7000 again. The higher it goes, the more people will turn bullish. In fact, we expect to hear the mantra on CNBC to become “we’re in a bottoming process” any day now.
(In December, when the market soared off the November lows, pundit after pundit said we were in a “bottoming process.” In the past two months, they came to the same conclusion the WSJ did: DOW 5000. Now, if the market keeps rising, they’ll get more bullish again.)
So which is it?
Are you convinced this is just yet another sucker’s rally and holding out for DOW 5000? Or did we just see the start of a great new bull market, that many folks have just missed the first 11% of?
Explain your position below. Here are some helpful primers:
- How Low Can The Market Go?
- Stocks Are Distinctly Cheap