Dow 5,000? Yes, it could happen

Dow 5,000? Yes, it could happen - MarketWatch:
"Don’t be surprised if stock markets stabilize or bounce back in the next couple of days.
Markets are due at least a short-term rally after this week’s dramatic plunge.
This usually happens after a sell-off, no matter what the next big move is going to be.
It doesn’t mean anything.
But anyone who automatically assumes this is another easy “buying opportunity” is talking nonsense.
For the past couple of years, Wall Street’s perma-bulls have had it their way.
They’ve been gloating openly as stocks went up and up and up, seemingly without pause.

It got to the point that those warning about valuations and danger signs had been mocked into silence — or were simply ignored.
Not now.
I don’t mean to be alarmist or to induce panic, but someone needs to tell the public that there is a plausible scenario in which the U.S. stock market now collapses by another 70% until the Dow Jones Industrial Average falls to about 5,000. 
The index tumbled more than 3% to 16,460 on Friday.
Dow 5,000?
Really?"