Timing the market: Bear Market Until 2018, Gold At $2,000-$3,000
By Daniel at 11 December, 2009, 4:29 pm
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
http://www.businessweek.com/investor/content/dec2009/pi20091210_434297.htm
“U.S. stocks are in a bear market that may last until 2018 and benchmark indexes may set new lows, said Alan R. Shaw, the technical analyst who retired from Citigroup Inc. after 45 years. Stock benchmarks are likely to fall below this year’s lows before the bear market is over. The prediction is at odds with the forecasts of Wall Street strategists. Aside from municipal bonds, Shaw said he’s currently investing only in gold stocks, expecting bullion to rise to at least $2,000, perhaps $3,000, an ounce.
“I don’t think the bear market that started in 2000 has run its course yet,” Shaw said in an interview in New York. In the last report he authored for Citigroup (C) in 2004, Shaw said the Dow Jones Industrial Average might struggle to remain above 10,000 for up to 20 years, “and I see no reason to change it five years later. My mindset continues to be very cautious.”"
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
No comments yet.