The Dow Jones Industrial Average closed above 10,000 today for the first time in a year

Dow Breaks 10,000 Do not Get Caught Up in Euphoria Mish Warns

The Dow Jones Industrial Average closed above 10,000 today for the first time in a year, and more than a decade after first breaking the mark. Since hitting lows in March, the Dow is up an astounding 50%, while the S&P 500 has gained 60%.

Before you get your broker on the phone or start trading that dormant online brokerage account, take heed of this warning from Mike “Mish” Shedlock, the blogger behind MISH'S Global Economic Trend Analysis: "Five years from now, I think its quite likely the Dow is not going to be much more than 10,000," Mish says.

Housing Better But Has Not Bottomed, Tilson Says

Tilson doesn't forecast "another calamity to come," but thinks housing is won't bottom until those homes are off the market, forecasting at least another 10% decline in prices and no true bottom for another year, at the earliest.

Asian Currencies Yen Yuan won Rupiah strengthened against the falling Dollar

South Korea’s won strengthened, approaching a one-year high, on speculation an improving economy will draw more funds to the nation’s assets. Bonds declined. (Source Bloomberg)

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