Dow 19,000 is no cause for celebration

Marketwatch ^ | Nov 22, 2016 | Chuck Jaffe, (opine)

[Rabin]

The Dow is the Kardashian of indexes — a celebrity benchmark, famous because it’s known rather than because of what it does. Every round number on the index hits the news cycle hard, largely because there is so little real news out there. In early November, nine straight down days on the S&P 500 the first nine-day losing streak in 36 years — as if that was somehow meaningful. Tuesday’s headlines included a 13-day winning streak for the Russell 2000, its longest win streak in more than 20 years. The Russell benchmark gained roughly 15% during that stretch — an achievement largely unnoticed because it wasn’t the Dow or S&P 500.

[Rabin]

Words & wisdom, beware the pack mentality of imbedded dogma.

r. (c) us, uk, only

[catnipman]

Dow 19,000 is no cause for celebration because the leap was due to President Trump being elected; however, it would have been another matter altogether if the increase had been the result of Hillary Clinton being elected, as such a high mark would have been totally justified.

[TexasGator]

Did you even read the article?

[ChinaGotTheGoodsOnClinton]

Unless a Democrat is in office or just elected.

[TexasGator]

Did you even read the article?

[TexasGator]

Did you even read the article?

[Attention Surplus Disorder]

It’s actually a lot more revealing to watch the Russell aka “/TF” in futures or can be traded as IWM as an etf or the S&P than the DJIA.

(why the Russell is abbreviated /TF I have not the slightest idea; the DJIA is abbreviated “/YM” so there you go)

Yes, with the slash.

They semi-sorta move in concert; but a big move in IBM or MMM can move the Dow Jones a lot (1 point in IBM is ~~11 DJIA points)

The Russell has been on a flaming tear.

[Professional]

You’d be better off getting election advice from a broken dart board than marketwatch....

[Professional]

I meant investment advice.

[ExSES]

As Fiat Currency worldwide diminishes in value, various indices will reach ever higher numbers! The U.S. Dollar of today will purchase less than THREE CENTS worth of goods compared to that of the U.S. dollar of 1913 (when the Federal Reserve..., which is NOT FEDERAL AT ALL, was established).

I have a number of "SILVER CERTIFICATES" printed as late as 1958 which are One Dollar Bills and supposedly redeemable for one Silver Dollar. As to that promise..., it is only a little better than a Confederate Dollar Bill.

[Insigne123]

Marketwatch seems virulently anti-Trump, as much as Bloomberg Business

[fruser1]

The dow numbers are freaky anyway due to the divisor they use to stabilize values as stocks are replaced on the list.

With the current divisor and a value of 19000, gets you the sum of the 30 stocks being 2774.

[upchuck]

I get a kick out of financial articles that claim the Dow has “surged” 100 points or even 200 points. When the average is around 18-19K, 100 points, 200 points is chicken feed.

[roadcat]

I have a number of "SILVER CERTIFICATES" printed as late as 1958 which are One Dollar Bills and supposedly redeemable for one Silver Dollar.

Weren't they printed up until 1964? And allowed to be redeemed in 1968 for silver bullion? I also have a few of them, will need to check the dates but I think they were early 1960s.

[stylin19a]

I was with him all the way...then, near the end of the article, like Lot's wife, he looked back.

He could have and should have left this paragraph out:

Right now the Dow is roughly 5% away from 20,000. So what? As I have said before, the media is intellectually dishonest when it emphasizes down days of these magnitudes with much more vigor than it reports gains of the same percentage size.