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.
[...] 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 [...]ReplyDelete