Predict where the Dow Jones will end up on 12/31

13,264.

I am so fuckin smart.

 

I don't remember us playing Price Is Right rules...

 

It was a very lucky guess on my part, knowledge of the stock market had nothing to do with it. The rate of return (as calculated by Fidelity) on my 401 in 2007 was only 9%. Since I didn't hit a double-digit return on it I won't be dispensing any advice. Besides, I only invest in mutual funds, not individual stocks.

 

In all honesty I had no more clue than the guy predicting within five points...however it's certainly understandable why the market has had a self off in the fourth quarter. It looks like consumer goods and shopping season were not all that terrible. As for Countrywide which I mouthed off to be a zero by the end of the year...it had a 45 52 week high this year and closed under nine at $8 and some change today.

The scary outlook is around current credit card accounts. There is alarming rise in chargeoffs which will probably trigger some more volatility. Unless we go to war with Iran soon, you could see some slow growth in defense stocks this year as most defense stocks are priced in 4-7 years out.

Good investing.