[Publius]

Back when this bear market began, I said the Dow would eventually bottom at 400.

I got laughed at. I'm glad to see someone agrees with me.

[SeekAndFind]

Since 2000, as illustrated in Exhibit 1 [below], movements in the U.S. stock market have been remarkably similar to the trend of weekly reported initial unemployment insurance claims. This chart suggests the fate of the stock market during the balance of this year may be tied to whether unemployment claims continue to trend sideways about the 450 thousand level (a result which would reinforce the trendless stock market which has existed since year-end), whether they surprisingly sustain a rise back toward 500 thousand (a meltdown scenario for the stock market which would heighten “double-dip” fears and keep vulnerability to any perceived Armageddon fears at a fever pitch) or whether they soon resume a declining trend towards the 400 thousand level (a move which could spark a fresh rally in the stock market probably carrying the S&P 500 to new cycle recovery highs before year-end).

[Pearls Before Swine]

Back when this bear market began, I said the Dow would eventually bottom at 400.

In inflation adjusted dollars, or in the dollar of the day?