You can play. Each weekend you can post a comment on my blog telling the world what you think will happen with the market. We’ll say the DOW.
You have to say the direction and the number of points you think the down will be up or down from the Friday close.

I go first this week.

The Dow closed at 8131.

People have been buying the market for a month and a half.

I could predict up or down. The trend is clearly up. Marty Zweig always said don’t fight the tape.

However, Kevin Hogan said when things look to good to be true, go the other way.

Getting to 8100 from 6500 was quite a feat. The market has momentum.

But I’m predicting the Dow will have a very unstable week with two up days, pretty big and three down days. I predict the market will close at 7700 this week.

We’ll play the contest every two months. You have to participate in 7 of every 8 weeks minimum. The number of points you are off each week will be tabulated and the person with the lowest score at the end of the contest (June 19 at the close) wins. Wins what?
Bragging rights to being number one at calling the market when everyone else hasn’t got the guts to put it out there in public.

So go ahead, PLAY and have fun.

 

PS Bonus predictions.

Gold closed at 868 yesterday. I think it will stay very close to that by weeks end perhaps pushing 900. I don’t think it will go down much more. My best guess is the horrible economic news of last week will kick stocks down and gold up.

Also, don’t be surprised if we have one really bad headline day for the market this week, i.e. “Dow down 500+ points on heavy trading….”