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Markets on upswing: Dow 10000 by year end !

Asian markets are up again. As predicted, oil is almost reaching $70. With Fed and Chinese cutting interest rates, has the tide finally turned ? With US elections almost over, I think we have seen the bottom last week with Dow reaching 8200. Markets could test that level again but there is strong support around 8000 (markets have rocketed twice from that level). As soon as elections are over and I hope Obama wins, markets would start going up.

My prediction is that DOW would close above or very close to 10000 rising another 10% from current levels. I am still long on financials and recently I have become bullish on oil - especially oil service sector. Emerging markets got killed in Sept and Oct and could provide a good entry point for long-run.

/Shyam

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