Dow Nearing a 1,200 Point Correction: Kiss Legend Gene Simmons

The Dow Jones Industrial Average is looking a little toppy, says legendary Kiss front-man Gene Simmons. With an estimated net worth of more than $300 million, investors should give a listen to Simmons.

Gene Simmons told TheStreet in Jan. 2017 the Dow Jones Industrial Average I:DJI would blow past 20,000 thanks to business friendly Trump policies. Simmons came back months later calling for Dow 25,000 (passed that), and said ultimately the Dow would rocket to 30,000 within two years.

But before it reaches that 30,000 level, Simmons thinks there will be a pullback — soon.

“We will be at Dow 26,000 any day now, but because of the political turmoil the Dow will go down 1,100 to 1,200 points in the next 12-months,” Simmons said in an interview. But with unemployment low, Simmons doesn’t think the market will stay down for long.