The markets, which I believed had tanked 'already', looks to go even further in the toilet. Do you sell, buy, hold or liquidate everything and go straight to cash? Do you continue to listen to your broker and hold onto your positions? About two years ago, when the DOW was still above 8,000, brokers were still giving that same advice- "Don't panic and sell out your positions", as the markets began its 1 year and 8 months slide so far. This idiotic, stupid, blanket advice that I have been hearing brokers give their clients is one of the reasons that I could not be a run-of-the-mill stockbroker anymore. You are given all the support and tools to buy and nothing to make sell decisions and "selling short" is even worse.
Well, I have a DOW number: 6500. I am predicting that around 6500 is a good number for the DOW. Based on what I have read and researched over the last two years, and my personal opinion on the value of bad assets on many financial institution books. I think that DOW 6500 is a fair place to start, that's a 50% haircut for those who want to know. However, we may see DOW 5500 as many positions continue to be de-levered, if not already.
Well, I have a DOW number: 6500. I am predicting that around 6500 is a good number for the DOW. Based on what I have read and researched over the last two years, and my personal opinion on the value of bad assets on many financial institution books. I think that DOW 6500 is a fair place to start, that's a 50% haircut for those who want to know. However, we may see DOW 5500 as many positions continue to be de-levered, if not already.
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