Will the market hit 6000?

[greggy]

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.

I'm a firm believer in history repeating itself yet again. I feel that this year will be one of the most volatile ever. The first half may well see a strong rise in the market, then move sideways and then a sizeable correction starting in Oct 07. I intend to have plenty of cash available around this time for any bargains that may emerge at that time. Meanwhile, on with the bull run.
DYOR

 

[Bronte]

6000.0 Exactly
Now 5997.4

 

[Buster]

Hey Greggy,

'Watch out for Oct 07, the 20th anniversary of the 1987 Crash. Just my thoughts after 28 years of trading.

Ha ha.. Remember it well.. I first dipped my toe into the stockmarket in September 87, at the ripe ol' age of 22, after a 'financial advisor' visited the ship that I was on and gave us the 'good oil'.. Needless to say I watched my dough reduce considerably shortly after, and my first reaction was 'This is a Mugs Game' and I walked away from shares for almost ten years (ironically when I should have been buying up big!!) with my vote firmly entrenched in the 'property' camp..

Although I did quite nicely (in my view.. probably poorly in the view of some on this site..) with property over the years, I have been nickle'd and dime'd to death with the 'Brokerage' and 'management' fee's over the years (not to mention the Agent's Brother in law 'Maintenance Man' tax every second month and knucklehead tennants..) and I now much prefer direct investment in my own share 'portfolio'.. Only one investment property left, which I will hang onto..

I for one hope that your premonition does not come to fruition.. I'll find you if it does..

Cheers,

Buster

 

[CanOz]

6000 may not get busted tomorrow, but next week for sure.



Cheers,

 

[giss]

Tomorrow for sure, when you got so far the last bit of a burst is the least thing to think of. The next day however is the problem--- oh **** where over 6000 - everyones doomed --- dive, dive, dive.

No really the way the market looks at the moment its like the supercycle has just shown its greedy face. Beware not to overfill your bellies. It'll grow till u burst.

It will make more sense in 6 months, because supply has a long way to catch up.

I think we are in for a super cycle & that the rule to use. Buy & sell its mosty going up. How long for? How long did the housing boom last---00-04 so the next 3 years at least. Then kaboom because no more bubbles.

 

[shinobi346]

I think I'll wait till Oct 07 to pick up some bargains.

 

[The Mint Man]

6000 may not get busted tomorrow, but next week for sure.



Cheers,

theres a good chance that you will be right.

 

[coyotte]

Fail to see why the markets will not go higher.
This is not like 1987 when the DJIA was like a skyrocket nor is it like :

Jan 95 to Jan 2000 -- 37 to 112 a 200% increase in 5 years !

This time round :

Oct 2002 to Feb 2007 -- 75 to 127 a more modest 70% in 4.5 years

and the DOW has just caught up with where it was back in Jan 2000 !

Maybe a correction in commodities , but there are heaps of other areas to trade


The way I see it the DJI has just broken out of a 6 year Ascending Triangle with a possible pull back to the 115 resistance line or a worst case , 1 week down to the 105 trend line .

We panic when it's up , then we bitch when it's down --- no pleasing us


Cheers

 

[The Mint Man]

theres a good chance that you will be right.

just got there mate, up 20 points, through 6000.
Now lets se if it keeps going or pulls back.
Guys that said 'not in near future' or 'correction first', you lose! :

Cheers

 

[dodgers]

next significant resistance 6089... lets wait and see..

its getting hot in here, time to change to my shorts

 

[The Mint Man]

well I think that its safe to say that 'Yes, but will quickly pull back for a breath' won this poll.

cheers

 

[>Apocalypto<]

just got there mate, up 20 points, through 6000.
Now lets se if it keeps going or pulls back.
Guys that said 'not in near future' or 'correction first', you lose! :

Cheers

Mint Man don't you love how the market loves to prove anyone wrong that makes a statement!

 

[The Mint Man]

ummm I dont understand
It hit 6000 before having a correction and it did hit 6000 in the 'near future'.
so whats your point?

 

[The Mint Man]

Smashed through it this morning.

 

[Buffettology]

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

Well its now over 6000. I believe the market will keep churning along, at least until next month and the RBA meeting (where a rate rise looks likely, though I got this months result wrong). But I think it will rebound quickly after that, until time-lags kick in and we see a slowdown in the indicators. Not to mention, the US is meant to be releasing some negative economic indicators later this year, so towards the end of the year, I believe we will see an end to this bull.

20th anniversary, interesting, will wait and see.