Updating the Dow (top ticking Energy?)

Monday, February 11, 2008 | 10:37 AM

The editors at DJ have made a few changes to the venerable index: Out are Honeywell (HON) -- which I have owned since the GE deal fell apart, and Altria (MO) which I sill have a small position in from the late litigation era.

In are Chevron (CVX) and Bank of America (BAC), which I don't. The charts  of the buy and sell signals below are rather interesting.

The adds of Intel (INTC) and Microsoft (MSFT) late in 1999 top ticked the tech boom. Will the Chevron add do the same for energy?

Here's the WSJ:

"Dow Jones & Co. announced that Bank of America Corp. and Chevron Corp. will replace Altria Group Inc. and Honeywell International Inc. in its benchmark Dow Jones Industrial Average effective Feb. 19.

The change is the first in four years and reflects the index's continued shift away from industrial firms and into other sectors such as energy and financial services.

Excluding thinly traded Berkshire Hathaway Inc., Bank of America and Chevron are the two biggest U.S. companies by market capitalization which currently aren't in the Dow industrials."

Interestingly, I noticed our ratings on both drops were "Neutrals"; the adds were split: BAC was a buy, CVX was a sell . . . charts after the jump.

Dropped:

Honeywell
Honeywell



Altria
Mo

 


Added:

Bank of America
Bac

Chevron Texaco
Cvx

Charts courtesy of FusionIQ














Source:
Bank of America, Chevron Added to Dow Industrials
KEVIN KINGSBURY
February 11, 2008 9:44 a.m.
http://online.wsj.com/article/SB120273890267958813.html

Monday, February 11, 2008 | 10:37 AM | Permalink | Comments (16) | TrackBack (0)
de.li.cious add to de.li.cious | digg digg this! | technorati add to technorati | email email this post

bn-image

TrackBack

TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c52a953ef00e550416be48834

Listed below are links to weblogs that reference Updating the Dow (top ticking Energy?):

Comments

I think this is CVX's four time in the DJIA.

Posted by: Justin | Feb 11, 2008 10:45:15 AM

The comments to this entry are closed.



Recent Posts

December 2008
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31      

Archives

Complete Archives List

Blogroll

Blogroll

Category Cloud

On the Nightstand

On the Nightstand

 Subscribe in a reader

Get The Big Picture!
Enter your email address:


Read our privacy policy

Essays & Effluvia

The Apprenticed Investor

Apprenticed Investor

About Me

About Me
email me

Favorite Posts

Tools and Feeds

AddThis Social Bookmark Button

Add to Google Reader or Homepage

Subscribe to The Big Picture

Powered by FeedBurner

Add to Technorati Favorites

FeedBurner


My Wishlist

Worth Perusing

Worth Perusing

mp3s Spinning

MP3s Spinning

My Photo

Disclaimer

Disclaimer

Odds & Ends

Site by Moxie Design Studios™

FeedBurner