Friday, February 20, 2009

It Will Take a Heck of a Rally!

Sometime back in December, I forecast a strong rally for the stock market, pushing the Dow towards the 11,000 level by the end of February. I was on target, as usual, about the size of the move. The Dow is now 1,400 points from the level when I made that fearless prediction. The only minor flaw in my prediction was the direction.

For me to be proven right will require the best week in stock market history. The Dow, now at 7,365, needs about a 50 percent increase next week, to make my prediction last December come anywhere near the mark. Is that too much to ask?

I think I need a favor from the President. How about a one week moratorium on new economic programs to rescue the economy? Also, would it be okay if Tim Geithner and Chris Dodd could be made your special envoy to Bhutan for next week? They could get a flight out of Dulles Sunday night returning late Friday night. I think Geithner and Dodd are especially qualified to spend a week in Bhutan and improve our ties to that important country. It is a shame that no media is available to accompany them and that telephones are forbidden in Bhutan. But, when they get back, they can tell us all about it.

That should about do it. Strap on your seat belts...the rally is on its way!