Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Dow at 10,000 - Where Do We Go From Here?

|Includes: Dow Jones & Co. Inc. (DJ)

Very interesting time in the market right now, with lots of divergent opinions about where the market is headed in the near term. 

Take a look at the daily headlines on CNBC.com or listen to the featured guests at Yahoo Finance's "Teck Ticker" (which incidentally is outstanding - you should watch the short 4 minute guest videos each trading day - http://finance.yahoo.com/tech-ticker ).  Half the "experts" are predicting a crash, the other half are saying Dow 10,000 is just the beginning.

Speaking of experts, my favorite prediction (in terms of good for a belly laugh) was last October 2008 - after the crash - when a guest on PBS' Nightly Business Report said the Dow would go back to 14,000 by the end of 2008.  I nearly had a seizure from laughing so hard at that prediction. 

Lots of market euphoria out there right now, but remember that contrarians often do pretty well in the market.  When the show shine boy is talking about the killing he's making in the market again, that's always a red flag. 

Comtex's SmarTrend Morning Call (mysmartrend.com) - says to look for the Dow to pullback soon about 4% or so, then rise up to 11,000 by the end of the year.  SmarTrend was spot on when back in June they said the Dow would hit 10k by the end of 2009 - and they kept reminding readers of that prediction ever since. 

Always keep in mind, the gains we've seen in the markets since March are extraoradinary (as in not very ordinary at all).   If history is any indication, we could be in for some rough sledding ahead.