The Dow Falls Some More

After hitting an all-time high last week, the Dow Jones industrial average has had a rough run this week, losing more than 500 points in the past two days. By the end of trading today, the Dow Jones was at 13,265.47, a long way from the 14,000 mark above which it closed last Thursday.

People on Wall Street seem to get spooked by the littlest things. This week’s drop is being assigned in part to worries about the housing market and the lending business. My question is, “Why?”. Americans are going to continue buying houses and borrowing money. The rate may slow some, but it certainly won’t cease anytime soon.

I am no stock market expert, but I personally believe that the long-term trend is upward. I expect the Dow to be decidedly above 14,000 within the next few weeks and probably hit 15,000 before the end of the year.

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