Comments

Yes! The market has been flat for the last 5 years. With the global market starting to make a move over the last year it is just a matter of time until the US markets take off. Valuations are still a bit high by historical standards, but I am not sure how relevant that is in the ever changing economy.

Posted by Tom Manning at March 7, 2005 1:54 PM

Whewwwwww ..... Aprils forwards Buying Oil prices hit the record last week. So there has to be an uptrade in the market. Lets wait to see what happens next month on this Benchmark !! :)-

Posted by /pd at March 7, 2005 3:29 PM

Just be careful to remember that 11000 today isn't the same as 11000 five years ago. The devaluation of the U.S. dollar against foreign currencies means that the Dow is worth much less today. In a global economy, investments need to be measured on a global basis.

Posted by Jake Carnow at March 7, 2005 6:39 PM

11k itself is meaningless without market volume numbers.

Institutions move the market trends, not individuals. if the stock volumes are tepid, (below moving average) the current move is yaaf (yet a another feint). as far as institutions are concerned, it's "no action"

http://www.marketwatch.com/tools/quotes/advanced.asp?symb=COMP&sid=&intflavor=javachart&siteid=mktw&dist=RegSignIn

Posted by kurt at March 7, 2005 11:10 PM

I am ALWAYS bullish on the market.

Posted by Erick Blackwelder at March 7, 2005 11:29 PM

Yes, the DOW will surpass 11,000...but not by very much, maybe 200 points. Then the bottom's going to fall out and we'll be back around 10,400.

Posted by Brian Wood at March 8, 2005 1:01 AM

Gas $2.50/Gallon?

Posted by Tom Asacker at March 8, 2005 9:49 AM

Unless you are turning 59.5 today and can cash in a high-value 401K, it isn't a time to be overly bullish. High gas and heating prices are canceling out any gains. High petro prices are beginning to negatively impact the prices of almost everything else bought and sold wholesale or retail. Wait and see. Put some of your money into oil.

Posted by Mike at March 8, 2005 11:11 AM

Just remember that this Thursday will be the fifth anniversary of the NASDAQ hitting its all-time high and look where it is today - 60% lower. Talk of any number as a "milestone" for being bullish or bearish is kind of odd in my book.

With all of the outside mitigating factors - record high oil prices, weakening dollar, massive and unsustainable federal deficits, weak job market and political uncertainties around the globe - I find it hard to be bullish at this point.

Posted by Andrew Hayden at March 8, 2005 4:59 PM

As an investment advisor and money manager, I monitor some 50-60 highly regarded, big-name stocks each day. Among these stocks, some 73% were in downtrends when the Dow hit its 11,000 mark. That means for most investors it is a profitless rally -- lots of stocks are not participating with the Dow on its march to a new high.

Posted by Steve Gettler at March 8, 2005 5:32 PM

I believe that a lot of the "Revolution" is not on the radar screen. Therefore, the profitless rally and the most likely drop of the index. This may well continue until a new economic order becomes clear - if one is even on its way.

Posted by Steve Robert at March 8, 2005 10:30 PM

Ok The vast majority of companies (and the people who work for them) are not part of the Dow.

More business is driven in small and medium sized companies world wide. In my experience these are much more WOW!

Posted by PaulH at March 9, 2005 10:13 AM