The adage is to buy low and sell high. Americans, and world denizens, have been buying high from the stock market for more than a decade. The stock market was driven up to historic highs, and generally peaked at a Dow Jones 14,903 on October 12, 2007, a year ago today (Sunday).
Over the past year the price of gold has hit historic highs, although it is down to $849 per ounce today. Investors have been selling diminishing stock values for increasing gold values.
Speculation drove the market up, and now it’s driving the market down. GM says that it will not declare bankruptcy, but stock is down to $4.68 a share, down from $46.64 a year ago.
Dagger readers should remember to buy low and sell high. Gold is now high, and stocks are low: do the opposite of what everyone else is doing to make your fortune. Since neither the Dagger nor myself are financial experts like timothy sykes or have any interest in giving you financial advice, remember that investments are risky because they have risks! Determining when things are low for the buying and high for the selling is the trick and the risk; if you’re taking the risk, be willing to accept the consequences.
Since The Dagger can’t give financial advice, let’s let the readers make the decision. Dagger readers, when will the market hit its low? If you’re right and collective predictions find the low, you can all make enough of a fortune buying low and selling high to donate to your favorite online news medium.
The market is at 8,451 as of this writing, down about 2,000 points from two weeks ago and down 6,500 from 364 days ago. Time for some Market Prognostication, and the winner is the one who ends up making a profit through this crisis… or maybe the winner is anyone who just manages to survive: what number will be the Dow Jones low for the year?
I’m not a real smart guy, but it looks like 800-8200 is going to be the trough for the Dow this time around. BUY BUY BUY!!
Shhhhhhhhh !
Does this change everything?
I guess the plans proposed today…already included in the bailout package…yet proposed as if they were fresh ideas….may have to be reevaluated tomorrow.
Go Dagger !
So, does anyone think that that was it? The Dow went up a record 936 points today, showing the truly wild nature of the speculation stock market.
If the tribulations are over, the market took a one year dive. October 12, 2007 to October 12, 2008 would be the worst 366 days for the stock market since the Great Depression. Was it just the last year? or will the market keep declining? Will the US economy boom, or is this a temporary speculative relief from the coming depression?
What are your Dow Jones low predictions?
I’m sticking with my 8200 prediction. I think it will test that low again before this quarter is over, but I still say that we’ve bottomed out and will see growth in the last 2Q of this fiscal year.
I’am inclined to believe.growth will be slow over the next 8 to 10 years. invest in stock that has weathered the storm. in small amounts and diversify.
You guys are ‘NUTS!”
The DOW ain’t even close to it’s bottom!
–mark my words!
…already below 8000!!!
Under 8000? Closed up over 500 pts today, north of 8800…
Looks like it keeps going lower: Lowest in 6 years today.
http://www.wbaltv.com/money/18752779/detail.html?treets=bal&tml=bal_natlbreak&ts=T&tmi=bal_natlbreak_1_03110102192009
Well, the Dow at 6594 is now 94 points away from my then-seemingly ridiculous prediction of 6,500. While I shared the prediction with friends, I didn’t post it on the Dagger for fear of the bad karma that accompanies such things. Looks as if it didn’t matter, and as if I will be wrong for the wrong reason: with no end in sight, the Dow will probably drop below (far below?) 6,500.
As a highlight, Citigroup shares are now available for 98 cents.
I am sure that the Dow accurately reflects the true feeling about the “stimulus package.” No one who understands anything about this stuff has any faith in government. But just remember it all started just 8 years ago and totally thre responsibility of George W.