THE NASDAQ Over 10,000 And The Dow Under 10,000?greenspun.com : LUSENET : TB2K spinoff uncensored : One Thread
"The Nasdaq index over 10,000, and the Dow under 10,000? Dow Jones & Co., the guardian of the world's best-known stock index, would probably like us all to believe that it wouldn't be a big deal if it happens.
Right. And Coca-Cola wouldn't care if Pepsi overtook it as the world's best-known soft drink.
Take a tip, Dow Jones: It's time for a radical Dow make-over. In the 100-year history of the Dow index, Wall Street has periodically argued over its relevance. But perhaps never before has the Dow been so at risk of appearing obsolete. On any given day this year, the question many investors have asked is not "What's the Dow doing?" but "What's the Nasdaq doing?
Powered by the technology, telecom and biotech shares that dominate it, the 4,700-stock Nasdaq composite index roared up 86% last year and is up almost 21% this year, to a record 4,914.79 as of Friday.
The Dow, saddled with too many names that investors rightly or wrongly now view as "old economy," is down nearly 10% so far this year, even after Friday's 202.28-point rebound to 10,367.20.
If Nasdaq passes 5,000 this week, as appears quite likely, the what's-wrong-with-the-Dow? stories will be everywhere."
Link To Full And Very Interesting Article In LA Times
-- Zdude (email@example.com), March 06, 2000
Thanks for the news posts, Zdude!
-- (firstname.lastname@example.org), March 06, 2000.
That's the goal. They want to get everyone into the more volatile stocks so TPTB can make more money off the highs and lows.
-- gotcha (email@example.com), March 06, 2000.