Thursday, July 23, 2009

Dow 15,000, Here We Come: Stocks Going to New Highs, Analyst Says

Charles Lemonides, chief investment officer with ValueWorks, says there's plenty of upside left, thanks to improving fundamentals.

"You'll see the market retrace its old high which means I think that over a couple of years you'll see 15,000 on the Dow."

I agree with long as the Administration doesn't commit economic suicide by imposing all sorts of fiscal drag (cutting spending, raising taxes, reducing the deficit).

Even so...enough savings have been pumped into the private sector as a result of deficit spending that even modest efforts to move back toward "fiscal responsibility," shouldn't have that detrimaental an effect. But we first need to see job growth resume.

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