Dow hits 13,000 for the first time...

[thefed]

What do you all think of that?

I am always leary of new highs, expecting a correction like we saw 8 years ago...but then again, i can be considered a pessimist

 

[saluki9]

Totally meaningless

It may cause some new flows from the retail side but nothing worth getting excited about

 

[unclemick]

Hmmm

I thought I told it(Mr Market) NOT to do that!

Now I'm stuck vacationing, fishing, camping, ?kayaking? and other stuff until the cold weather hits in the fall - of course if the stupid thing (da Market) stays up - may have to develop some Winter activities.

Blond hair tinting and posting from a heated remodeled basement in Missoula?

heh heh heh - just kidding .

 

[al_bundy]

only wait and see

every index and stock has to hit a new high when it goes higher in a bull market

 

[justin]

What do you all think of that?

Let's see. The bi-monthly auto-invest into my Vanguard European index fund occurs today. Our bi-monthly auto-invests via our 401k plans occurs Monday. I think I'll do a whole lot of nothing personally right now.


If we see a big 10-20% run-up in the market in the next few months, I'm tempted to sell some funds I want to sell anyway and pay down (or pay off) the mortgage with part or all of the proceeds.

 

[Nords]

What do you all think of that?

I think I'll go surfing today!

I'd be much more excited if it hit a new low...

 

[d]

how about when it breaks 13000 for the second time?

 

[FinallyRetired]

Remember the Dow 10K party on CNBC? And how many times it recrossed 10K after that?

 

[Sheryl]

I'm glad I got done procrastinating and got my cash moved into MF during the last dip - but I agree it's meaningless in the big picture.

 

[al_bundy]

more importantly the volume looks pretty good as well

1.2 billion on the nasdaq so far. anything over 2.1 or 2.2 billion by the end of the day is going to be higher than average volume and pretty good and a bullish sign. nyse is anything over 2.8 billion shares, forgot the exact numbers.

i'm going to guess around 2.2 billion on the nasdaq by the end of the day if the current volume trend holds.

new highs on high volume is bullish. on low volume is bad since it most likely means retail investors and speculators

 

[kcowan]

I don't see it! I predicted that it would be 12,900 at year-end. Here are the May closes for the last few years.
11168 06
10467 05
10188 04
8850 03
9925 02
10911 01
10522 00

I am thinking that 12,900 might be too aggressive now. The only hope is that people running from the real estate bubble continue to pump up the values!

 

[jIMOh]

I am staying 100% equities and will sell off 1% for every 1000 it hits before dropping.

14000 sell 1%
15000 sell another 1%
and so on.

 

[Dawg52]

Buyyyyyyyyyyyyyyyyyyyyyy! Heck, I sure don't know what to think. Just my luck, I just received the proceeds from the sell of my interest in the company I worked for(private) and the darn market is at an all time high. Wanted to invest it in a 50/50 manner but not sure what to do now. I guess I will dollar cost average and if the market tanks in the process, go ahead plunk the rest of it down at that point.(advice from a good friend on the board )

 

[runchman]

Wanted to invest it in a 50/50 manner but not sure what to do now.

How about go to yahoo finance, do a 'max' chart on the dow, look back in time and see how many times you could have lump-sum invested at a 'new high' in the past, and how much higher it is today.

I'm an advocate of setting the asset allocation, investing any new money immediately as it becomes available, and ignoring the market gyrations.

- John

 

[TromboneAl]

It's significant in that some traders think it's significant, and might change their behavior because of it, and because some traders think that some other traders think it's significant, and other traders think that that second batch of traders think it's significant that the first set of traders thinks it's significant. Etc.*

Other than that, it's not significant.

*that's known as the Infinite Banking Concept.

 

[al_bundy]

Buyyyyyyyyyyyyyyyyyyyyyy! Heck, I sure don't know what to think. Just my luck, I just received the proceeds from the sell of my interest in the company I worked for(private) and the darn market is at an all time high. Wanted to invest it in a 50/50 manner but not sure what to do now. I guess I will dollar cost average and if the market tanks in the process, go ahead plunk the rest of it down at that point.(advice from a good friend on the board )

for now i think we are in a rally and going higher. my guess is another 5% and then flat for a few months and then a correction or bear market or another rally. who knows.

long term i think we are in a 1970's type bear market where stocks will be like a rollercoaster and the highs of 2000 will also be the highs of 2010 or 2015 except for the Dow. can't say how high the dow will go in the next 6-12 months, but i think come a few years from now it will still be around 13,000, plus or minus a few %

 

[dmpi]

This market is driven by higher earnings. The earnings slowdown everyone predicted hardly made a dent in earnings. Let the party continue....

 

[brewer12345]

Who really cares when the Dow hits one number or another? Seems so old-fashioned/clueless.

FWIW, I suspect we may see a classic "sell in May and go away" pattern this year. It will become increaingly clear over the summer that the housing market is affecting the rest of the economy. That will spook the market for a little bit, but it will also get the Fed off its ass and the rate cuts should start before the end of the year.

Or maybe not.

 

[bssc]

My wife and I work for Dow companies so that higher Dow prices is a good thing.

 

[Nords]

Or maybe not.

That pretty much sums up all the analysis I've seen in the last year or so...

 

[d]

Or maybe not.

That pretty much sums up all the analysis I've seen in the last year or so...

well, that's only the half of it ... the other half is the original "maybe"

 

[frayne]

Totally meaningless

It may cause some new flows from the retail side but nothing worth getting excited about

Give the man a cigar !

 

[TromboneAl]

I almost did some market timing today. In my after tax account, I have mostly VG 500 Index funds plus money market. The MM is down to an amount that would last about 1 year, and I thought I might just move 10K from the index fund to the MM.

Went through half the online exchange procedure then, said "Nahh -- that would be market timing!"

So, expect a big correction tomorrow.

 

[donheff]

Went through half the online exchange procedure then, said "Nahh -- that would be market timing!"

Not too late Al - about 13090 and climbing.

 

[wabmester]

I never understood the excitement about stocks hitting a new high. In a country with the population hitting a new high each day, and the GDP hitting a new high almost every day, shouldn't you expect the stock market to also be hitting a new high almost every day?

The fact that it doesn't simply means that stocks aren't completely rooted in fundamentals.