Anybody who doesn’t think the Dow Jones Industrial Average could fall to 1,500 should take a look at this chart. Right now, stocks have fallen about 50% from their highs, a drop that is consistent with many other downturns, save 1929-32, when stocks fell 90%. Here’s the chart, courtesy of Barry Ritholtz.
Astrology Scout » Blog Archive » Stay Out of Stocks said,
February 23, 2009 at 9:42 pm
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JF said,
February 25, 2009 at 2:11 am
It’s not clear what makes you think stocks will fall much further. Is this based on astrology or history?
Monica said,
February 25, 2009 at 12:58 pm
Good question and the answer is both. I look at both history and astrology. From 1929-32, there was an important astrological configuration that will be repeated again in 2010. It’s being referred to in the astrological community as the Cardinal Climax.
Taking this into account and looking at the historical stock data, I’m predicting that the Dow could be as low as 1,500 by the end of 2010. As you know, it’s already down about 50% from its highs. Of course, there will be some upswings on the way down, but we’re nowhere near bottom yet.