Dow Versus Other Markets at Highs

Monday, October 16, 2006 | 10:36 AM

via Birinyi Associates, come sthat rather intriguing chart:

click for larger graphic


There have been 3 major divergments between the Dow Industrials and the Transports: 1972, 1995, 2005.

Monday, October 16, 2006 | 10:36 AM | Permalink | Comments (15) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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Barry... or anybody else...

What do you think of the whole "Irrational Exuberance" argument that stocks are still overvalued in terms of historic P/E ratios due to the great bull market in the 80s to 90s... and that there could still be a big correction in the future, especially if the Boomers pull out of the market.

This image just reminds me that the Dow could still be fundamentally overpriced.

Posted by: anon | Oct 16, 2006 11:29:02 AM

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