Saturday, August 06, 2011

pbo calls Dow 9000

[11/17/11] I think the economic funk is over. No more gloomy markets, DOW 20K by the end of 2012. Surely there will be some volatility going into the end of this year, but that's just a transient.

How's that for bold? ;-)

[8/6/11] DOW opens at 9876.54 this week. I am not saying which day this week. If it hits that number, I declare victory. ;-)

Berkshire hits a low of, hmmm, I haven't even checked it lately to see if it's already passed my number, ok, 67.89. That's for the B shares, folks, don't get too excited. Oh, you guys know why 6 was afraid of 7, right? Because 7 8 9.

I also predict that Warren gets to toss out a couple of dozen billion dollars next week, either rescuing GS again or buying someone who's going under otherwise.

Treasuries will open roughly unchanged. Go figure.

Gold will rise then fall. Then rise. Then fall. Then rise above 2K before the week is over.

A reporter will ask the president why we aren't as financially strong as the isle of man. Other reporters will have to google it to figure out what he was talking about.

Congress will be forced to go back and reconsider all of the budget discussions and basically redo the entire budget. This one only applies if it looks like the government is going to lose a lot of tax revenue due to a collapsed wall street and wealth fleeing the country.

We are being hit hard here - two major hits - the S&P and the threat of a new recession, both are major hits. If the market DOESN'T over-react, it will be a total eye-popper.

Little Timmy Geithner will be fired this weekend. In fact, he has already been told. His last day ends with the fiscal year. He is at his desk crying on the phone to me as I type this. What a baby.

Trixie will be run over by an inebriated bear driving a beer truck making a smokey and the bandit run of Coors into the former capitol of the united states, washington. (We are putting the new capitol in someplace more respectable this time: Juarez.)

Sorry for being so vague about my predictions. ;-)

[6/10/11] I don't really have commentary, just marking the tide level:

http://finance.yahoo.com/news/Dow-falls-below-12k-stocks-apf-1563455911.html

I suppose that this is no surprise to any of us, but it strikes me as a good place to lay down a marker. It's the longest weekly losing streak since 2002, as the dot com bubble unraveled...

"Fear and greed": Looks like fear is sweeping in. Almost for sure it will be time to be greedy very soon.

[6/2/11] DOW 9000 is a given from here. At that point, a recovery can happen as long as the fed removes the QE intervention and stays hands-off for a while. Remove the pacifier. If the DOW stays at 12K, we endure extended misery as a result of sub-par behavior.

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