My longstanding target of Dow 18,000 is now within a day or two reach if the bulls can muster the energy by Thanksgiving. If not, they may to wait until later in December. As you have read for several years, the bull market is old, but alive and should live on until enough people throw in the towel and stop predicting doom and gloom on every single digit pullback. If and when the Dow closes above 18,000 for a week, that will open up the possibility for 20,000 by mid 2015.
Earlier this week, I spent some time with the good folks at Yahoo Finance and my friend, Jeff Macke in particular. I always enjoy creating segments there as they are usually controversial, timely and thought provoking. They also inspire an awful lot of people to send me very “interesting” emails and post “unique” comments on Yahoo about me. Sometimes, I need the skin of a rhino to deal with the personal attacks, but it is what it is.
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