Serious Money: Dow 10,000 is meaningless - Sheldon Liber

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Serious Money: Dow 10,000 is meaningless
Oct 16, 2009 02:20 PM UTC

Sheldon Liber

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Filed under: Major movement, Earnings reports, Forecasts, Good news, Rants and raves, General Electric (GE), Intel (INTC), Market matters, International Business Machines (IBM), JPMorgan Chase (JPM), Goldman Sachs Group (GS), Serious Money, DJIA

For the past 48 hours people have been asking me if I thought the market would pull back after the Dow Jones Industrial Average surpassed the milestone of 10,000. Business journalist's and guru's alike have suggested that there might be some profit taking or "selling into strength" and the recent highs would not hold.

As the market proved yesterday, up about a half percent across the board, with the Dow closing at 10,062.94, up 47.08 in last-minute buying -- that is just a lot of noise.

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Serious Money: Dow 10,000 is meaningless originally appeared on BloggingStocks on Fri, 16 Oct 2009 09:20:00 EST. Please see our terms for use of feeds.

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