The Current Market

I know most of my recent blogs have been about the economy, but we are in the midst of one of the most critical times in world history. I fully feel we are going to rally from Friday's lows (the Dow hit 7800 intraday). My best guess is a rally into the 10000 to 10700 range. This would be just a natural bounce-back rally after a dramatic plummet over the course of the previous couple weeks. If and when we hit this level, I would need to reassess the situation. However, there are many scary issues underlying the world and in particular the US economy. If these remain, it will be time to go defensive because we will go lower than we did on Friday. If the issues start to clear up, then we will likely have hit a long-term low Friday. Right now though, I can't give a good opinion on if all these moves by the governments worldwide will work or not.