DJIA under 13,000 – What’s next?
Dow Jones Industrial Average closed under 13,000 yesterday. Does this signal the beginning of a free fall or is it temporary? My guess is with the upcoming options expiration on Friday and dropping under the 13,000 psychological level, we’ll see 12,000 within a couple of weeks. If that were to occur, I would think the Fed would have no choice but to cut rates or shift their focus from inflation to housing/financials. I’m curious what you think. Are things as bad as they seem or is this just a temporary correction?
August 16, 2007 | Posted by Jorge
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