Dow Jones Industrial To Fall 4000 Points In 2012? – Joseph Granville
Dow Jones Industrial To Fall 4000 Points In 2012? - Joseph Granville Jan. 23 (Bloomberg) -- Joseph Granville, a technical analyst who has been publishing the Granville Market Letter from Kansas City, Missouri, for more than 40 years, talks about the outlook for the US stock market. He speaks with Adam Johnson on Bloomberg Television's "Street Smart." (Source: Bloomberg) Tuesday, January 24, 2012 Joe Granville Predicts Another Earthquake: "Dow Jones INDU to 8000" Earlier this morning I was told that our most popular post on Monday was "Long-time bear joins bulls: Controversial Joe Granville says Dow could rise 800 points"* from August 2008. Joe was wrong on that one. Here's his latest via BusinessWeek, Jan. 23, 2012: Granville Says Dow Industrial May Drop Toward 8000 in 2012 Joseph Granville, whose "sell everything" call in 1981 sparked a decline in US stocks, said the Dow Jones Industrial Average will drop toward 8000 this year because of waning momentum and volume. "Volume precedes prices," Granville, 88, a technical analyst who has been publishing the Granville Market Letter from Kansas City, Missouri for about 50 years, said in an interview on "Street Smart" on Bloomberg Television. "You are seeing much lower volume. That tells you that prices are going to go much lower, much lower than most people think possible and very few people have projected." The Dow average has gained 4 percent this year to 12708.82 at 4 pm in New York. The Standard & Poor's 500 Index has ...
