Dow 10,000, We Hardly Knew Ya!

Pardon me for saying so, but really, Who TF cares?   

Its a meaningless number, without any impact technically or quantitatively. Its no surprise that the Dow did not hold over 10k for very long. Its been over 26 times, starting in 1999. And  hear it is, 10 years later — zero progress.

Why anyone — other than tv producers and silly hat manufacturers — cares about D10k is quite simply beyond my comprehension . . .



The chart above fails to capture the 26 times the market has traded thru 10k . . .

Originally published at The Big Picture and reproduced here with the author’s permission.
Opinions and comments on RGE EconoMonitors do not necessarily reflect the views of Roubini Global Economics, LLC, which encourages a free-ranging debate among its own analysts and our EconoMonitor community. RGE takes no responsibility for verifying the accuracy of any opinions expressed by outside contributors. We encourage cross-linking but must insist that no forwarding, reprinting, republication or any other redistribution of RGE content is permissible without expressed consent of RGE.   

One Response to "Dow 10,000, We Hardly Knew Ya!"

  1. FEDup   October 24, 2009 at 7:26 am

    looks like 10,000 has become the “new mean” for the DJ!