DOW closes at 10,000

[Cryptic]

http://voices.washingtonpost.com/economy-watch/2009/10/dow_nears_10000_for_first_time.html

Hasn't closed above 10k since Oct 3, 2008

I found these tidbits interesting:
First time DOW closed at 10k was back in 1999 and at that time:

Gas was $1.20 per gallon. Today, the national average for a gallon of regular unleaded is $2.48

The dollar index (DXY), a comparison of the dollar's strength against other currencies, was 100.36. Today it's at 75.60, showing a dollar weaker by 25 percent.

The other side of the dollar coin, so to speak: In 1999, gold was $280 per ounce. Now, it's $1,060, showing investor anxiety in the dollar.

Most frighteningly, the total U.S. debt was $24.6 trillion. Today, it's $50.8 trillion. And soaring.


So twice the debt and the dollar is worth 25% less but Washington Posts says "Investors believe the economy is indeed recovering from the financial crisis and recession"

ahh, yeah there's a long way to go

[SSDude]

Inflation will be what takes us down again

[Al]

Are you saying "we need another Bill Clinton!"?

[lordairgtar]

Dang you Cryptic. That roaming cursor is driving me nutz. Thought my chit was going goofy for a minute.

[lordairgtar]

I got my quarterly report on my retirement investments and it grew $8,000 from last quarter. Now if it only stays going in that direction. To date it's $400 more than on the first of the month.

[Cryptic]

dang you cryptic. That roaming cursor is driving me nutz. Thought my chit was going goofy for a minute.

haha :D

[Car Guy]

Dang you Cryptic. That roaming cursor is driving me nutz. Thought my chit was going goofy for a minute.

I thought the yellow dude with the gun was trying to shoot it.....:goof

[lordairgtar]

He is, but he is a bad shot.

[Russ Jerome]

Oh cool its all good now, closed over 10k happy days ahead, lets all spend money and top off those credit cards!
http://www.smartmoney.com/investing/stocks/dow-decoder-what-does-10-000-really-mean/
I've turned into my grandfather, its all propaganda and its always gonna get worse. The richest 1% of America have more than the combined 95% of the rest of us.....and that 1% work and run wallstreet, the same 1% who run the government.....sorry you and our kids are still screwed....and I'm canceling Christmas, yup Im calling it off as of right now! Ba humbug :)

[07ROUSHSTG3]

nice to see some of the loss coming back.

[Russ Jerome]

Fixxing the economy was easy, we bought a pile of these:
http://harnessracingblog.com/files/2008/11/money-printing-machine.jpg
Its super easy, we're not paying back China or Japan and we're just running these suckers 24/7! Wooohoo!!! Its all good, need anything "bailed out?"

[jbiscuit]

YAY! Go buy a bunch of stuff you can't afford immediately!! The malls should be packed tonight. Saw on CNN that they said this was the stability the American consumer needed before they feel good to spend money again :rolf We should be back to square one here before the year is out! Debt: Its the American way! But I suppose...we learn from example...the US debt is a trendsetter for middle class americans to want to be like! Everyone should have a Benz in their garage! Come on South Milwaukee and Franklin! I know you wanted that hot tub and that fishing boat!

[Al]

So, 10,000 is a magic number?!

[Goat Roper]

So, 10,000 is a magic number?!

Psychologically only

[Karps TA]

My 401K is up over 32% for the year. So I'm happy.

World ends in less then 3 years anyways. Might as well smoke em while you got em.

[Smokey1226]

finally completely out of all Red Numbers back in the green! WOOOHOOO

[VroomPshhTsi]

this can only mean one thing... Obama is the best president... ever :goof

[Smokey1226]

this can only mean one thing... Obama is the best president... ever :goof
http://d.yimg.com/a/p/ap/20090914/capt.6161eb07d34f4da78a1dc368b5f91004.bears_packer s_football_wimg123.jpg


:thumbsup

[jbiscuit]

My 401K is up over 32% for the year. So I'm happy.


Mine isn't up that much but getting dam close. I at least am making back the thousands that were lost when the market crashed.

[Josepy]

It is going to drop again.

[Reverend Cooper]

^ even lower than it was before

[Yooformula]

anyone remember when the dow hit 10k and the nasdaq clipped 5k back in 99? tech stocks were all the rage and every internet ipo that came out blew up like gangbusters. Back then you could see why the market was overinflated and climbing like crazy, whats the reason now? I just watched on foxnews 2 days ago them saying that retail sales and buyer confidence is at an all time low and that sept was the worst sales month in the last 18 months yet 2 days later everything turned around?

[Smokey1226]

It is going to drop again.
please do! I sold high, and bought low! And i would love to do it again as well!

[Reverend Cooper]

cash for clunkers has done what it was supposed to all major car comp. have stepped it up to catch up once that happens and things go back to normal it wil affect the economy again.
and my done what it was supposed to i mean a temp obama band aid on a cut off hand

[Sprayaway Fox]

Why is gold trading so high if the economy is fixed?:confused lol

[xxsn0blindxx]

My 401K is up over 32% for the year. So I'm happy.

World ends in less then 3 years anyways. Might as well smoke em while you got em.


Mine too, but too bad it's still down 4% from the beginning of 08. It would appear that investors are riding the feel good train in spite of all the negative data. Could this be the setup for that double dip so many analysts have been predicting? I think so.

[95mustang302]

^ Because people are affraid the dollar will fall so they are buying tangibles... hence why oil is creeping up again...

[Goat Roper]

^ Because people are affraid the dollar will fall so they are buying tangibles... hence why oil is creeping up again...

I agree with the tabgibles (gold is at an all-time high) but the biggest reason for the jump in oil, at least this week, is a weak dollar.

[Al]

It is going to drop again.

It always does!