THE MARKET
(MarketWatch) — U.S. stocks fell more than 2% Friday, turning the Dow industrials negative for the year and pushing the S&P 500 into correction territory, after a U.S. jobs report showed slim growth last month. The Dow Jones Industrial Average DJIA -2.22% fell 267 points, or 2%, to 12,126. The index is now down 2.6% for the week and 0.7% for the year.
The S&P 500 Index SPX -2.46% dropped 31.11 points, or 2.4%, to 1,279.31, undercutting what some analysts see as support at 1,280. The index is 10% off an intraday, 52-week high of 1,422.38, reached on April 2.
BOB BRINKER'S CURRENT STOCK MARKET FORECASTS
Bob Brinker is still bullish. In the April and May 2012 issues of Marketimer, Brinker raised his S&P target range to "upper-1400s to lower 1500s" and extended the time frame to "within the next 12 months." He recommends dollar-cost-averaging for new stock market money and all of his model portfolios remain fully invested.
Moneytalk, April 29th, Brinker said: "I have not at this
time, in April of 2012, I have not predicted a crash in the market."
Jim said.
Jim is right. On May 6th, Brinker
said "One of the things you're going to be hearing about going forward
is about the seasonality of the market. This is one of the great myths
of Wall Street....The facts do not bear it out and yet people continue
to promote it as though it were true even though it is not true. The
seasonality that I speak of is the seasonality that the market goes down
from May to October every year. Of course, this is nonsense. I wanted
to share some statistics with you on this. To prove the point. If you go
back about six decades plus...to middle of last century and check the
S&P 500 from the beginning of May to the beginning of October, and
here's what you will find. On 60% of the occasions -- 6 out of 10
basically the market is either up -- usually up or else it is even. And
in only 4 out of 10 cases was it down during that time. So you see,
fiction is fiction is fiction."
Dan G said...And also in June to avoid the swoon.
Stay out in July or you will fry.
Watch out in August for a big bust.
September and October will be horrible months to remember.
November 1 is All Saints Day. Buy 'em back, then hope and pray!
I guess many of us should have expected this however, after Brinker proclaimed a month ago that there is no seasonality to the stock market. I guess Brinker won't discuss that topic anytime soon.I don't expect him to discuss ANYTHING about the stock market anytime soon. So get ready for his alternate topics: tax policy, the national debt, and the problems in Euroland.