2009: Banner Year for Stocks:

The U.S. stock market is poised to end the year with a comeback of historic proportions, with the Dow Jones Industrial Average up 61% from its March nadir and 20% on the year…..

With one trading day remaining in 2009, the Dow is on track for its biggest annual gain since 2003, when it rose 25%. It finished Wednesday up 3.1 points, at 10548.51, a fresh peak for the year and the highest since October 2008.

See also:

Dow 30,000 : Zuccaro, 2008.

Dow 30,000: Sharma, 2008 (astrological finance).

Earlier estimates were overoptimistic, though Glassman wasn’t too far off:

Dow 100,000: Kadlec, 1999.

Dow 40,000 : Elias, 1999.

Dow 36,000 : Glassman, 2000.

In fairness, even the WSJ felt the need to insert a hedge:

But the history of such comebacks suggests the biggest gains may already be over, making it hard to expect a blockbuster 2010.

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This year, next year, Santa Claus bring cargo. Trust me. Happy Holidays.

P.S.: Frum cargo cult. David denies involvement, just like he always does.

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