AT THE SAME TIME WITH EXPECTED MULTIPLE POSITIVE NEWS WE WISH
SURGE IN EDIG SHARE PRICE ACCORDINGLY .
Dow 10,000, Revisited: Paul Kedrosky Sees Stocks "Considerably Higher" by Year-End
Posted May 28, 2009 06:48pm EDT by Aaron Task in Investing, Autos
CARLSBAD, CALIF. -- Stocks rallied sharply Wednesday, resuming the climb off the March lows, a move Paul Kedrosky attributes to the "‘the world hasn't ended' trade plus inventory restocking."
Citing the ongoing skepticism in the rally's staying power (a contrarian indicator), the Infectious Greed blogger and senior research advisor to Ten Asset Management believes the market is likely to "saw-tooth [its] way considerably higher through the rest of the year."
How considerably?
Kedrosky thinks the S&P could approach 1100 by year-end, which would translate into the Dow well above 10,000.
Nonetheless, he believes it's a bear market rally and unlikely to continue into 2010 as the market to get hit by fears of a "double-dip" recession.
In the immediate future, meanwhile, the market is dealing with a number of other issues .
