World wide markets

[mike777]

The Dow Jones is now at about where it was ten years ago. :)

 

 

Ireland is protecting all the debt of its top banks.

 

Iceland's Prime Minister says the nation may go bankrupt.

 

In just the past 5 weeks:

France down over 17%

Germany down 16%

Russia -48%

China -7%

Japan -18%

[Lobowolf]

The Dow Jones is now at about where it was ten years ago. :)

Let's not get carried away...it's more than 20% higher than that.

[mike777]

July 16 1998

Rises 93.72 to close at 9,328.19, first close above 9,300.00.

 

jan 6 1999

 

Rises 233.78 to close at 9,544.78, first close above 9,400.00 and 9,500.00.

 

 

 

 

9,447.11 -508.39 / -5.11%

 

Oct 7 4:05pm ET

[Lobowolf]

The Dow Jones is now at about where it was ten years ago. :)

October 7, 2008: 9,447.11

October 7, 1999: 7,741.69

 

9,447.11-7,741.69 = 1705.42 etc. etc. yada yada.

[mike777]

lol that was nine years....see my quote for ten years :)

 

 

I guess we got to go up 100 points by jan 06 2009 to match jan 06 1999 :)

[Lobowolf]

That was a typo, actually...7,741.69 was the 10-7-98 close.

 

http://finance.yahoo.com/q/hp?s=%5EDJI&a=0...&e=7&f=1998&g=d

 

 

Having said all that, your point is well-taken, although it references a time during which stock prices were a bit wacky thanks to the dot com heyday. I know that S & P P/E ratios were crazy and getting crazier then, marketwide; maybe that wasn't the case with the Dow, but I suspect it was. The "bigger sucker" theory dominated.