“Reaching a notional milestone like 20000 isn’t some magical sell signal or an indication that the Dow is doomed to drift or go down from here.
“But the index’s own history should remind us all that the good times don’t roll forever. So Dow 20000 should make you cautious, not euphoric.
“Owning stocks is a long-term undertaking that doesn’t just require patience. It also requires higher tolerance for pain and uncertainty than many investors may realize.”
— Excerpt contributed by Jason Kelly
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| Z-val: | Jason Zweig |
| Via: | WSJ |
| Date: | 1/25/17 |
| Disposition: | Long-Term Bearish |
| Dow on 1/25/17: | 20,069 |
| Dow on 12/29/17: | 24,755 |
| Change: | +23.4% |
| Judgment: | Wrong |
Z-val definition and more forecasts in The Z-val Zone.
