Next stop: Dow 20,000 Commentary: 10 reasons why the market will soar
Even God took one day to rest. The market every now and then needs a day or two to rest. Maybe even more than a day or two. But over the next 12 to 18 months I expect to see Dow 20,000.
Here are some reasons:
Read:
www.marketwatch.com/story/next-stop-dow-20000-2011-06-02
He was a weekly columnist from 2004-2009 for The Financial Times, and wrote articles for The Street.com, Seeking Alpha, and Daily Finance. He has appeared on CNBC, and has written several books on investing. Altucher is a frequent guest contributor to The Daily Ticker feature on Yahoo! Finance.
"One of the reasons we're more positive than negative on stocks is that there's so much bad news priced into the markets right now," said Eric Thorne, an investment adviser and senior vice president at of Bryn Mawr Trust Wealth Management, which has $4 billion in assets under management. "The bar has been set so low for housing and jobs that it makes us feel like we may be able to jump over that low bar."
Stocks slip 80 pts after Fed trims economic forecasts
In an updated forecast, the Fed now estimates the economy will grow between 2.7 percent and 2.9 percent this year. That's down from the previous estimate of 3.1 percent to 3.3 percent estimate made after its last meeting in April.
Federal Reserve Chairman Bernanke said the main causes of the recent slowdown are temporary. The Fed expects the economy to pick up next year after the effects of Japan's March 11 earthquake and higher gasoline prices diminish.
