Will the market hit 6500 points? (In near future)

[The Mint Man]

Well I thought I should start another thread/poll similar to the one I started on the 12th Feb to gauge the thoughts of the people on ASF.
Last time the magic number was 6000 points and it reached that not long after the thread started so this time I'm starting it a few hundred points off the magic number, being 6500 points.
I will use exactly the same answers in the poll as the last one. Last time the winning answer was 'Yes, but will quickly pull back for a breath' but soon after it pushed on through 6000 as we can all see now.

So who here thinks that the market will hit 6500 points in the near future? say by the end of FY07.
Why, why not?
How far up or down (if thats your view) will it go and for how long will it stay there?

STC I imagine that you were being sarcastic when you said this in my last thread but you could be right!

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

Once again I will end the start of this thread by saying;
There have been many threads asking 'when do you expect the market to fall?' etc. but as of yet there have few signs and the market has seemed to shrug this bear talk off! Time for the bulls to have a say.

Cheers

 

[The Mint Man]

Just for future reference,
The All ords are currently standing at 6216 points.

Heres a link if your interested in reading the 'will the market hit 6000 points' thread.
https://www.aussiestockforums.com/forums/showthread.php?t=5865

 

[Buffettology]

I believe we could get as high as 7000 by October-November. Dont think it will go much past that before we get a correction.

 

[marklar]

I think we'll touch 6500 in May and then quickly dive back below 6000

m.

 

[bean]

I could not post in the poll.
What if the top is in? What if the market drops from here?
The US might (a double top or going for 13000) and for us 6500 is a dream for a year or so.
We should be correcting at the moment with our $ being so high. Are we in bubble terrritory or a blow off top?

 

[Ang]

I am not sure about May, it would could be between June and July, however the target is correct I get 6536. See attached graph- all ords are in a second darvas box.
kind reg
Ang

 

[gazelle]

XAO Percentage of the low :

100% 2666PPL = 5332 ( actual top 5352 ) - 20
125% 2666PPL = 5998 ( actual top 6024 ) - 26
150% 2666PPL = 6666 ( ominous No in the roadmap )

300% 1151PPL = 3453 ( actual top 3443 ) - 10

These figures are only a roadmap detailing possible price objectives

 

[The Mint Man]

I could not post in the poll.
What if the market drops from here?

Then there are 2 choices for you!
No, will not hit 6500 points in the near future.
No, more likely to have correction first then reach new highs

Cheers

 

[The Mint Man]

Well.... its just been hovering lately. Maybe we wont see it hit 6500, time will tell!

 

[justjohn]

here we go baby 6000-:fu: minty

 

[The Mint Man]

Well what a week! ended really strong with new record highs. Starting to look good for the 6500 points mark

here we go baby 6000- minty

Spoke too soon mate.... you must be spewin by now, youve missed out on what? 1000 points almost!

Cheers

 

[x2rider]

Hey Minit man
A short pause for the index before barging through the 6300. I have a target inbetween the 6300 and 6400 so the stops are starting to get moved up.
It's moved maybe 9points since the close and the high materials and stronger gold should all be good for monday as well.

Cheers martin

 

[The Mint Man]

Got to say that the market supprised me today, started off sluggish but is now up around 60 points. Another 150 and we will be there

 

[Buffettology]

Then there are 2 choices for you!
No, will not hit 6500 points in the near future.
No, more likely to have correction first then reach new highs

Cheers

I beleive it will hit 6500 in the near future. Might have a small correction after that (5%), then it will hit (or come close to hitting) 7000 towards the end of the year. In October, we get a rather large correction of close to 20%.

Speculation, but thats my guess at the moment.

 

[The Mint Man]

well it looks like were looking good to hit 6500 (or more) before end FY07. :band:dance::bananasmi:beat:

 

[TMo]

Wow ... I expected 6400 to go, but I didn't expect it to go that quickly. Blue skies ahead :alcohol:

Well, sorta. I can't see 6500 going down without an incident ... it's the sort of level that I think is going to make people nervous, I think.

 

[The Mint Man]

well not far off now with the all ords reaching a new high today. All we need is one of those 80 point days
Just john, you love it

Cheers