In the midst of all the celebration of the past three days, allow me to throw out this thought:
It’s nice to have a positive outlook on life. Lord, knows we need it, lest we fall into the depths of despair. However, when it comes to the market, we need to be objective and carefully think through the possible outcomes and scenarios, keeping our emotions in check.
Here’s one that is quite sobering:….If we follow the path of the GD (Great Depression), we may see Dow 1,500. Do the math.
Remember? From the peak in 1929 to the bottom of the Depression saw the Dow sink 89%.
Of course, that’s simply impossible in this day and age. Right? Perish the thought.
You may now continue the celebratory festivities, as you milk this rally.
(Disclaimer: these comments are the views of the author and not necessarily those of IBC, it’s owners, or employees.)
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