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Paul Nesbitt: Dow 15,781 in 2008 ... and in other news, monkeys can fly
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This Link is located in the Public Channel Housing Bubble and Bear Links.
Posted by ian 1 year 337 days ago (reuters.com). Views: 309
Tags: wall street housing bubble |
| Related Tags: finance stocks economics business video forbes bailout peter schiff |
Mr. Nesbitt, with all due respect, you have fallen completely off your rocker. I won't go so far as to call you an idiot, but I will eat my shoes if the Dow reaches 15,781 this year.
It's just unbelievable how this guy obtained the job he did or that he is even quoted in the press.
"Equity markets have found a bottom and are poised to hit new highs in the second half of this year, according to a senior chartist at Dutch-Belgian bank Fortis.
Paul Nesbitt, London-based technical analysis director at Fortis Private Bank, told Reuters on Monday that the Dow Jones industrial average .DJI may rally to 15,781 points this year, a gain of more than a quarter from Friday's close of 12,325.42.
His forecasts, based on trend lines linking the market's recent lows as well as technical analysis such as Wave Theory, applied to European stock markets as well as older Asian equity benchmarks such as Hong Kong's Hang Seng .HSI and Singapore's Straits Times Index .FTSTI, he said.
'I would expect these markets, based on history, to hit a new high,' he said, adding that many technical indicators showed the markets' recent reverses were 'corrections within an ongoing bull' rather than the start of a bear market."
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