Will the market hit 6000?

[The Mint Man]

So who here thinks that the market will hit 6000 in the near future, say over the next month or so.
Why, why not?
How far up (or down if thats your view) will it go and for how long will it stay there?

There have been many threads saying 'when do you expect the market to fall' etc. but as of yet there have been no signs and the market has seemed to shrug this bear talk off! Time for the bulls to have a say.

cheers.

 

[krisbarry]

Yes it will continue and hit 6666....what an evil number

 

[theasxgorilla]

Yes it will continue and hit 6666....what an evil number

I hope you're right STC.

 

[The Mint Man]

Yes it will continue and hit 6666....what an evil number

No actually......
it would be more evil to just hit the devils number dead on.
666

 

[The Mint Man]

getting that much closer now

 

[greggy]

getting that much closer now

With the way this speculative bubble is going I wouldn't be surprised to see the market hit 7000 at some stage this year. But watch out for Oct 07, the 20th anniversary of the 1987 Crash. Just my thoughts after 28 years of trading.
DYOR

 

[exgeo]

YES

 

[exgeo]

NO.

 

[exgeo]

Who really cares? Do your research, buy undervalued stocks and you'll make money no matter what the overall market is doing.

 

[Kauri]

Yes, but I also think that 6000 may hit the market...hard..

 

[theasxgorilla]

With the way this speculative bubble is going I wouldn't be surprised to see the market hit 7000 at some stage this year. But watch out for Oct 07, the 20th anniversary of the 1987 Crash. Just my thoughts after 28 years of trading.
DYOR

I'm also curious to see what happens with October 2007...maybe it will be like Y2K (a fizzer), or maybe there will be some real fireworks

 

[The Mint Man]

Yes, but I also think that 6000 may hit the market...hard..

Fair enough, maybe that should have been one of the poll options.

Who really cares? Do your research, buy undervalued stocks and you'll make money no matter what the overall market is doing.

True but this is an indicator of how the market is doing in general, so it is of interest to most of us....
By the way, you no longer need to double or triple post rubbish... you have enough posts and posts per day to enter the stock comp :

cheers

 

[greggy]

I'm also curious to see what happens with October 2007...maybe it will be like Y2K (a fizzer), or maybe there will be some real fireworks

I just feel that some people will get nervous around Oct and start taking some profits off the table as I believe that the market will continue its strong until then. 7000 as a target may look silly at this stage, but I feel that this bubble is set to go higher. Resource stocks will continue to lead the charge.
DYOR

 

[The Mint Man]

Yes it (7000) may look silly but so did 5000 or 6000 at one stage.
That is partly the reason why I started this thread. As I said in my first post... there has been doom sayers around for quite some time now. When we had that correction last year some were saying 'the sky is falling'.
The market has continued to shrug this all off.
Of course there will be those doom sayers that say 'see I was right' when the market does stop for a break but some of those have been rambling on for over a year now.

 

[theasxgorilla]

Who really cares? Do your research, buy undervalued stocks and you'll make money no matter what the overall market is doing.

I care! If it gets to 6000 and I'm not making money then I have a problem.

 

[Smurf1976]

With the way this speculative bubble is going I wouldn't be surprised to see the market hit 7000 at some stage this year. But watch out for Oct 07, the 20th anniversary of the 1987 Crash. Just my thoughts after 28 years of trading.
DYOR

Agreed about the October issue. No doubt there will be mention of 1987 in the media and this may well result in a selloff amongst mum & dad investors who haven't thought much about risk so far.

 

[Ol School Skata]

No actually......
it would be more evil to just hit the devils number dead on.
666

That would be evil - if the market dropped 89% to hit 666

OSS

 

[Bush Trader]

I posted this onn the correction thread earlier today, it may be of interest. Brokers may not be our favorite mob, however they do drive investment sentiment.


The following is an extract reported by FN Arena yesterday

"Credit Suisse holds the view, demand for Australian shares will outstrip supply significantly this year. The Broker even uses the term "unprecedented". The broker believes last year demand already outweighed supply, despite the large T3 offer, and this has pushed up the share market's performance into double digits again. This year the gap should be much, much wider.
If Credit Suisse's calculations prove correct circa 4% of the total market capitalisation of Australian equities will be looking for reinvestment in the market this year. All these funds come from excess cash (paid out through dividends or share buybacks), mandatory superannuation (with changes in legislation adding more to the basket this year), corporate mergers and acquisitions, private equity deals and -not to forget- the government's Super Fund.
Last year, the strategists argue, the overall PE for the Australian share market rose by 10%. Credit Suisse sees a direct relationship with the demand/supply balance. Considering the broker believes the imbalance for 2007 will be four times larger as in 2006, it would be easy to see the market PE to expand further this year.
The fact that the bond market has now priced out any rate hike in the near term will no doubt contribute to such a scenario.
There is, of course, a third scenario whereby share prices retreat to create room to move further upwards again.

At a time when several commentators are pointing out that underlying momentum in the US equity markets appears to be waning, and the market is starting to look "heavy", investors can possibly draw confidence from Credit Suisse's analysis that any possible weakness will make the overall market simply more attractive. "


Cheers

 

[The Mint Man]

Thanks for that Bush Trader, very interesting.
cheers

 

[hitmanlam]

With the way this speculative bubble is going I wouldn't be surprised to see the market hit 7000 at some stage this year. But watch out for Oct 07, the 20th anniversary of the 1987 Crash. Just my thoughts after 28 years of trading.
DYOR

I think I'm going to be selling on Oct 06 just incase it happens. I think we are safe till at least May imo.