Tuesday, May 12, 2009

Now I Know the Rally is Over

Just heard Goldman Sachs' analyst Abby Joseph Cohen say that the S&P 500 will hit 1050 by the end of the year.  It is odd.  I greatly respect Goldman Sachs. I think they hire some of the smartest people around but I just do not trust their market forecast.  I guess I just remember them saying that Oil would blast past $200 and well we didn't quite get there and in fact reversed to the economy that we have now. 

When everyone has a rosy outlook, it is timee to sell.  I am not sure we will retest the March lows of the Mid 600's but I think we will be below 800 not too long from now.

1 comment:

  1. [...] would like to say I called the top of this particular rally.  With the Dow down over 180 points and consecutive days of weakness, it sure does look like we [...]