STOCK MARKET WATCH - Friday, 17 January 2020

[Tansy_Gold]

STOCK MARKET WATCH, Friday, 17 January 2020

Previous SMW:
SMW for 16 January 2020




AT THE CLOSING BELL ON: 16 January 2020


Dow Jones 29,297.64 +267.42 (0.92%)
S&P 500 3,316.81 +27.52 (0.84%)
Nasdaq 9,357.13 +98.44 (1.06%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:







Gold & Silver:



Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread

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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[question everything]

1. Like fire, shoot, aim

But back to the stock market. I kinda remember someone, some years back, predicted the Dow at 30,000 and was laughed at. Now we are getting close. Of course, it is a matter of percentage.

[tclambert]

2. I predict the Dow will hit . . . 100,000

Should be a good prediction as long as I don't put a time frame on it. If it ever hits 100K, I'll claim to be a genius.

If it never does, well, never is a long time. I'll try a two part excuse strategy. One: "You have to give it more time. Someday, it will make it. You'll see."

Two: "Well, civilization collapsed. Of course that affected the stock market. Who could have predicted civilization's collapse?" (Hey, I think I just did. At least, if it happens, I'm taking credit.)

[Tansy_Gold]

3. as long as the Fed keeps printing money

and handing it out to Wall Street, the numbers will keep climbing.

We SMWers are still waiting for the predicted collapse. . . . . but the collapse of civilization may come first.

[progree]

4. I think the most famous of those predictions was James Glassman's Dow 36,000

https://en.wikipedia.org/wiki/Dow_36,000
Dow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market is a 1999 book by syndicated columnist James K. Glassman and economist Kevin A. Hassett,[1][2] in which they argued that stocks in 1999 were significantly undervalued and concluded that there would be a fourfold market increase with the Dow Jones Industrial Average (DJIA) rising to 36,000 by 2002 or 2004.[3][4] The Dow was pushed down by the bursting of the dot-com bubble as the NASDAQ peaked in 2000 and bottomed out in 2002, and by the September 11 attacks in 2001. The Dow fell below 8,000 in 2002 and remained below 12,000 until 2006.