Submitted by Denis Lafont-Tr...10.28.2008
Thunderdome
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This prediction is closed and has been judged.
Judgment on Dec. 1, 2008: While getting scarily close to coming true (see chart below), the Dow managed to keep its head above 7286.27 during the allotted timeframe. Judged at 0% for not coming ot pass. Let's hope this continues to be the case going forward during these tumultuous times. As of this writing, the Dow is down –434.96 to 8,394.08. -- The Industry Standard
Original prediction: In the last 10 years, the lowest the Dow Jones has gone is 7,286.27 on October 9, 2002, when the Internet stock bubble burst.
Predict: Will the Dow drop below 7,286.27 during intraday trading between now and November 30, 2008? It does not need to close under 7,286.27, but merely go below 7,286.27. After hours trading will not be considered for judgment.
Let the community decide. Place your bets below. (AP Photo/Mark Lennihan)
Price History
Prediction Statistics
| Betting Closes: | Nov 30 2008 | Current Consensus: | 6.60% | Total Bets: | 50 |
| Today's Change: | 0% | ||||
| Life Time High: | 63.41% | ||||
| Life Time Low: | 6.60% |
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Dropped almost 5% today to 8,695.79. Only 1,400 points to go to hit this prediction. Scary. Stocks Fall on Bleak Spending and Jobs Data
We will have to see how the global financial situation looks like in the coming days. 1400 is still a tad far.
With and endless stream of bad news just but every day and a lame duck president and congress..lets not forget that some how all this ¨lose money ; and bailouts injected needs to be payed for....
I see a very real chance we break through the low of 2002..., but it may take longer a little longer then nov 30 2008 to reach that level.
While we're approaching the low for the last 12 months (7,882.51) we still have well over 1,000 points to go to hit this by November 30.
We are now approaching only 900 points from 10 yr low. This is becoming more likely now that 2 weeks ago for several reasons ...
As of right now, we're 100 points away from a 12-month low (7,981.75 –300.91). Only 695.48 difference to hit this predictions mark anytime in the next two weeks.
Dow is staging a rally since dipping below 8,000. Bargain hunters? Speculators failed to heed the warning of "don't catch a falling knife" motto when it comes to stocks. Even the behemoth Google couldn't stop the slide which now dipped the $300 level.
Another stunning rally .. swinging nearly 900 points!
I think the DJIA may actually drop below 02 level because the investor confidence is very low with the multitude of economic problems and predictions of possible economic depression. This time it is not one sector that is suffering, but everyone including financial industry. This is a risky time that could also prove to be rewarding for those who don't get upset when t here are large, very large losses on the table. This will definitely take some time to ride out.... I was at the mall tonight, and almost could not find parking. Here in Midwest, I would not know it is tough economy if it was not for the media/TV. I have also noticed, there are great deals to be had in retail world - true shopping extravaganza.
This may be, coupled with low gas cost, just the catalyst to pull America through. Low stock prices will persist through the end of this year and first part of next year. Then, stock prices should start increasing but the growth will be tempered with the rising inflation.
Dow went to 7987 intraday.
As I type this, only a 576 point difference for this prediction to come true in the next few days. Will the Thanksgiving holiday stop this from coming true? At this point, I don't know what to think. Just a couple of weeks ago everyone was wringing their hands over inflation worries.
Now the economy seems to be so shaky, we're dealing with DEflation. Not good.
DJIA is freefalling ... just dipped below 7600
Closed on November 20 @ 7,552.29 (–444.99).
This prediction only requires the Dow to drop 266 more points to come true. Considering we have one more week to go - shoot, guys, this could happen tomorrow at this rate.
With no economic report out tomorrow and auto bail out vote pushed to December, tomorrow will depend on pressure from Asia and Europe trading day and potential bargain shoppers (if they have guts). Otherwise, Monday economic reports on existing home sales and housing price index will continue to put downward pressure. With an intraday criteria, this could very well happen as early as at open tomorrow or sometime Monday.
In a stunning turn around, DJIA up nearly 7% to close above 8,000.
DJIA managed to stay afloat at above 8800 at end of November. Unfavorable judgment can now be rendered.
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