Krassimir Ivandjiiski
Home Archive Search Sponsors About us Contact

Translate
Select Language




Dow May Sink to 5,000, in 2009


Dow Average May Sink to 5,000,

 

Oct. 23 (Bloomberg) -- The Dow Jones Industrial Average may sink as low as 5,000 next year, a 41 percent decline from its current level, according to Peter Boockvar of Miller Tabak & Co.

``The market's going to overshoot on the downside,'' Boockvar said in a Bloomberg Radio interview yesterday. ``When that occurs, I'll be a raging bull.''

The CHART OF THE DAY shows 40 years of the Dow average. It last closed below 5,000 on Nov. 20, 1995. A retreat to that level would represent a 65 percent plunge from its all-time high of 14,164.53 set in October 2007.

Earnings estimates are too high and when investors realize that, they will drive the stock market lower, added Boockvar, Miller Tabak's New York-based equity strategist. Companies in the Standard & Poor's 500 Index will earn a total of $60 a share in 2009, not more than $90 as some analysts estimate, he said.

To contact the reporters on this story: Thomas R. Keene in New York at tkeene@bloomberg.net; Ken Prewitt in New York at kprewitt@bloomberg.net.

Last Updated: October 23, 2008 00:01 EDT

 



 
"Строго секретно" излиза от 1991г. Вестникът е уникално издание за кулисите на висшата политика, геополитиката, шпионажа, финансовите престъпления, конспирацията, невероятното, трагичното и смешното.
Strogo Sekretno is the home for the highest politics, geopolitics, geo-economics, world crisis, weapons, intelligence, financial crimes...
(c) 1991-2025, Strogosekretno.com, All Rights Reserved
Contents may not be reproduces in whole or in part without permission of publisher. Information presented in Strogo Sekretno may or may not represent the views of Strogo Sekretno, its staff, or its advertisers.
Strogo Sekretno assume no responsibility for the reliability of advertisements presented in the newspaper. Strogo Sekretno respects the privacy of our subscribers. Our subscriber mailing list is not available for sale or sharing.
Reprint permission: contact@strogosekretno.com