Michael Lombardi, a lead contributor to Profit Confidential, writes, “There’s a striking resemblance between 2011 and 2010’s stock market action,” and he sees this pattern continuing.
New York, NY (PRWEB) October 04, 2011
Profit Confidential, the popular stock market and economic e-letter, reports today on a striking similarity between stock market trading during the first nine months of 2011 and during the same period of 2010.
According to Profit Confidential, “The Dow Jones Industrial Average is down 5.5% in the first nine months of 2011. At the beginning of 2010, the Dow Jones Industrial Average opened the year’s trading at 10,500. By September 30, 2010, the Dow Jones Industrials was trading at 10,000 after a rocky August and September—a decline of 4.8%.”
Michael Lombardi, a lead contributor to Profit Confidential, writes, “There’s a striking resemblance between 2011 and 2010’s stock market action,” and he sees this pattern continuing. "Between September and December of 2010, the stock market rallied, ultimately leading to a 10% gain for stocks in 2010.” On the backdrop of today’s extreme bearishness, just like in September of 2010, Lombardi believes stocks will rally from today’s level to end the year higher.
Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market...before it plunged.
Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.
To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.
Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.