Adam Lass, chief chartist of WaveStrength Options Weekly, believes that the fall-out of the current banking crisis is so severe that the Dow Jones Industrial Average could plunge to levels no seen in over five years: "We're already roughly back to 2006. We could easily see this get back to 2002 levels before the dust settles. The possibility of the Dow at 8,000 is certainly not out of the question."
Baltimore, Md. (PRWEB) March 17, 2008 -- Financial editor Adam Lass, chief chartist of Wavestrength Options Weekly, sees the potential for the Dow Jones Industrial Index to fall back to levels not seen since 2002.
In an exclusive TFN web video interview with TFN Smart Trading Action Alert's research director Laura Cadden, Mr. Lass said: "There's a big difference between this dip and the last dip. I'm anticipating the Dow dropping. We're already roughly back to 2006. We could easily see this get back to 2002 levels before the dust settles. The possibility of Dow at 8,000 is certainly not out of the question."
In his analysis of the current market situation, Lass considers the U.S. banking sector most exposed to further devaluation. Asked about the global effects of this development, he said: "Globally speaking, there are banks out there that never touched subprime. Robust banks in robust economies that have none of this red ink, and they're all being punished the same way, and that means that there's actually buys in banking out there."
Adam Lass gained international notoriety for predicting the stock market crash of September 2001 a few days before 9/11. His WaveStrength Options Weekly specializes in international options strategies.
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