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Tom Chechatka

Woe! You're saying I HAVE to believe the Dow will be LOWER at the end of '09? I can't believe it might reach 10,000 by then? I mean, after all, you're the one saying "With the end of this epic free-fall seemingly nowhere in sight..."

Isn't this is the kind of language typically spoken at bottoms?

This is not to suggest a "new bull market" is about to break out. But a "correction" of the past year's loss seems reasonable to me...



We're not saying the Dow has to be lower at the end of 2009 at all. The question was what will the low in the Dow be between now and the end of 2009. Our highest starting point was just a couple hundred points below where the Dow was trading at the time of the post, and just a hundred points below where the Dow closed yesterday. If you believe the Dow will not fall more than it is now between now and 2009, you can select 7,500. It seems as if you're interpreting the question as "Where will the Dow be at the end of 2009?" If we posed that question, we would have of course offered many options above the Dow's current level as well.

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