Dow 11,000
How crazy looking is this chart?
click for larger graphic
Chart courtesy of NYT
Ralph gets it right:
"It is more psychological than anything else," said Ralph J. Acampora, a longtime market forecaster who accurately predicted in 1997 that the Dow would reach 10,000 by 1999. "The average investor is now going to be impressed with the market's new high," he added. "Now that they hear it and see it, that is going to bring new money into the market."
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Sources:
Dow Tops 11,000; First Time Since '01
ERIC DASH
NYT, January 10, 2006
http://www.nytimes.com/2006/01/10/business/10stox.html
Graphic
http://www.nytimes.com/imagepages/2006/01/10/business/20060110_STOX_GRAPHIC.html
Tuesday, January 10, 2006 | 09:15 AM | Permalink
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Comments
And that's what it's all about, correct? Bringing more money into the market.
I was really interested in just how badly many of the "blue chip" stocks that are part of the DJIA performed in the time frame of that chart.
BTW, this chart, coupled with the other you just posted about bond yields and the spread really reinforces that I think I should change my portfolio mix... More research needed...
Posted by: PigInZen | Jan 10, 2006 9:53:08 AM
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