Thursday, February 4, 2010

Another Buffoon forecasting failure?

Not too long ago (3 Jan), I called the Dow peak at 11,000 (10,700 - 11,700; asymmetrical range).
The day of the MA special Senate election it closed at 10,725.
Since Scott Brown was elected to U.S. Senate from MA, it's been on a downward trend.

Stocks tumble on worries about jobs, European debt
By TIM PARADIS, AP Business Writer
4 Feb 2010
NEW YORK – Stocks buckled Thursday under the growing belief that the global economy is weaker than many investors expected and likely to stop companies from hiring. The Dow Jones industrials briefly traded below 10,000 for the first time in three months.
[emphasis added]
10,725 - the day of the MA election - was the peak. Okay, my "midpoint" was off, but I got the lower end right! - in fact, pretty close to dead on!

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