Siegel, whose bullish prediction made headlines earlier this year, said Dow 17,000 was even more likely now.
“The 17,000, when I first gave the prediction late last March, I said it was a 50-50 proposition. But I think that that’s a goal that is very, very attainable given the market circumstances,” he said. “That’s what the statistics show, that there was almost a 50 percent chance on past historical valuations and periods that the market would reach that 17,000 by the end of next year.”
Since March 2009 lows, the S&P was up 116 percent, the Dow was up 107 percent and the Nasdaq was up 150 percent.
(Read More: Jeremy Siegel: Dow Could Hit 17,000 Next Year)
Siegel suggested that those who missed the stock market rally could provide another boost.
“When you take a look equity positions of a lot of money managers, they’re still underinvested in stocks. Remember the old saying, ‘Sell in May and go away’? It worked for two years. A lot of people did that,” he said. “They want to come in again in October, and they find themselves way behind the 8-ball given this summer rally.”
Trader disclosure: On Sept. 17, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Stephanie Link is long AAPL; Stephanie Link is long JPM; Stephanie Link is long WFC; Stephanie Link is long EBAY; Stephanie Link is long AIG; Joe Terranova is long VRTS; Joe Terranova is long WFM; Joe Terranova is long SWN; Joe Terranova is long AAPL; Joe Terranova is long TRV; Joe Terranova is long VZ; Joe Terranova is long VLO; Joe Terranova is long CSTR; Joe Terranova is long CHKP; Joe Terranova is long EMC; Joe Terranova is long NXPI; Joe Terranova is long AAPL SEPT. 655 PUTS; Joe Terranova is long AAPL SEPT. 640 PUTS; Mike Murphy is long WFC; Mike Murphy is long TGT; Mike Murphy is long FB; Mike Murphy is long EBAY; Josh Brown is long MRK; Josh Brown is long AAPL; Josh Brown is long RAX; Josh Brown is long LULU;
For Faisal Kahn
Within the past 12 months, Citigroup Global Markets Inc. or its affiliates has acted as manager or co-manager of an offering of securities of CVX
Within the past 12 months, Citigroup Global Markets Inc. or its affiliates has acted as manager or co-manager of an offering of securities of VLO
Within the past 12 months, Citigroup Global Markets Inc. or its affiliates has acted as manager or co-manager of an offering of securities of PSX. ______________________________________________________
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