Thursday, September 28, 2006
Sell Stocks Now
The Dow Jones Industrial Average reached its highest level in six years on Thursday afternoon but edged off the peak to finish just short of its all-time closing high. The S&P 500 hit a fresh a five-year high.
“The Dow is nothing but a flirt,” said Ken Tower, chief market strategist at Cybertrader. “It’s enjoying the attention and prolonging the mystery.”
The Dow will not reach another all-time closing high until at least 2009. We are currently in a long-term bear market. This rally will not last. Sell your index funds now. There is a 50% chance of a major ( greater than 15% drop in the Dow and S+P 500 indexes ) market crash in the next 45 days. If you are adventurous, buy Diamond and Spyder Put options.