What direction for the Dow? Depends on who's talking

December 4, 8:46 AMBusiness ExaminerDarrell Proctor

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Is the market about to turn around? Some investment analysts think the major indexes have hit bottom and have nowhere to go but up in the coming months.

Others, though, are predicting the Dow could be closer to 7,000 by the end of the first quarter 2009 than it will be to 10,000.

"More and more, it looks like a bottom," said James Paulsen, chief investment strategist at Wells Capital Management, in an interview with Bloomberg News. "Value is clearly there. It’s showing up everywhere now. Value becomes so compelling that you overcome your fears.”

Fears remain, however, among those concerned about the depth and length of the recession.

Chuck Widger, chief executive and chairman of Brinker Capital, an investment management firm, earlier this week told Associated Press: "The story is all about recession and the question is how long and how deep. We're going to have continuing volatility until investors have better visibility. All the data is being filtered to answer the two questions of how deep and how long the recession will be."

Al Goldman, at Wachovia Securities in St. Louis also weighed in to the AP: "We've got a tug-of-war of war going on. On one side there's the prospect of several more months of bad economic news and on the other side there's lots of stimulus already on the table."

Do you have an opinion? Or how about this - the Dow had a record close of 14,165 on Oct. 9, 2007. Any guesses on when it might get there again?