Why KISS Rocker Gene Simmons Sees Dow 30,000
It appears the bears are awakening from their deep slumber to turn the lights out on a bull market that’s been going for nearly a decade now. Leave it to a legendary rocker to throw the lights back on and, of course, crank the music really loud. Beyond 30,000, that’s where the Dow Jones Industrial Average (DJIA) is headed, according to Gene Simmons, known by many rock n’ roll fans as the KISS Demon. Simmons recently sat down with Barron’s, and among other things, gave them his divinations about the market, “We are now at 24,700, something like that, and there is no question in my mind we are going to go past 30,000.”
As of the close of trading on Tuesday, the Dow was sitting around 24,360, down 1.5% on the year. Since 1985, the Dow has gone through good times and bad, but has risen overall by nearly 1,800%. If Simmons, bassist and co-leader singer of the band KISS, is right, the Dow could rise another 23%. (To read more, see: How Now, Dow? What Moves The DJIA?)