Dow hits 9,000

Markets

[sirshackleton]

Dow is at 9,000 as of this posting. Since the gain today has exceeded 150 points, curbs are in place. Will it hold?

[RightWhale]

The DJIA is rising too quickly. It will pull back before resuming the climb.

[AD from SpringBay]

Sounds like a key indicator pointing towards a depression. Better elect Hillary, and quick!

[gridlock]

The next time Rush Limbaugh says "BUY", I'll buy.

[Lou L]

Rising too quickly? On what barometer is your claim based? What would be a more appropriate slope of rise?

[Russ]

"DOW hits 9000"

Sen. Daschle's office issued a statement saying the Senator was "deeply saddened".

[SJSAMPLE]

Profit taking will stop this rally dead in its tracks. Many investors have been waiting for an opportunity like this to recoup some of their initial investment and most likely won't have the stomach to stay in the market. Personally, I don't even look at my IRA and 401k, so I'm hoping it continues.

[RightWhale]

The economy is warming, not boiling. For the DJIA to track smoothly it should rise no more than 25 in a day, but steadily. If it shoots up 150 in a day, it will pull back 100 the next day or the day after that, then probably spurt up again, etc. It always overshoots and corrects, sometimes in a single trading session, sometimes in a week.

[Boston Capitalist]

Let's see what the employment numbers look like on Friday. My guess is that the market will take its cue from that. Employment is the only sector of the economy that still looks bad. (People forget that employment is a lagging indicator.)

[TonyInOhio]

Sen. Daschle's office issued a statement saying the Senator was "deeply saddened".

"I'm deeply saddened."

[AdmSmith]

Here is the daily link link

http://finance.yahoo.com/q?d=t&s=^DJI

Unfortunately, I anticipate that the economy is not W but instead WV and we are at the moment between W and V, i.e, wait until next year for the real rally. In the meantime expect a new surge of SARS in the flu season in the winter 2003/2004 and higher oilprices until the Iraqi wells are well in about 6 month from now.

In other words we will have a nice 2004. Election time?

[LS]

I disagree: there have been many tech breakthroughs---the MS settlement, the FCC ruling, the ruling regarding NAPSTER-type sites. These are critical developments for the tech market, which will lead (and has led) the recovery. Look at the S&P, and NASDAQ: these are up even more, proportionately. I saw on another thread that the S&P hit a historical breakpoint for profitability last week.

[Eric in the Ozarks]

36,000 Dow ?

[Princeliberty]

value ratio to earnings right now is 36 to 1
before when the market peaked before the bull
started it was around 34 to 1 the average
in history is around 10-14 to 1.
The market is a bigger bubble now than before.
The market going to take a huge dive once
reality sets in.

[LS]

Not soon, but I'd settle for a 11,000 Dow.

[Eric in the Ozarks]

11,750 was (I think) the top. Nasdaq was 4,000 or nearby.