Saturday, June 26, 2010

A Century of Dow Hats

The DJIA first crossed 100 at some point before 1929.

It bottomed in 1932. It took 10 more years to cross 100 permanently.

The DJIA first crossed 1,000 in 1972.

It bottomed in 1974. It took 8 more years to cross 1,000 permanently.

The DJIA first crossed 10,000 in 1999.

At first we thought it bottomed in 2002 and that it took just 1-2 more years to cross 10,000 permanently. No such luck.

We then thought it bottomed in 2009 and that it took less than one year to cross 10,000 permanently. No such luck.

Nobody knows how many years it will be before we cross 10,000 permanently. It is possible that we already have. I wouldn't bet on it though. As of today, we only have a 143.81 point safety margin.

May 25, 2010
Dow 10,000! (An Illustrated History)

Stocks were way down this morning, and the Dow fell below 10,000. That threshold has no intrinsic meaning, but it has this very loaded, emotional history.

The first time the Dow closed above 10,000, it was a really big deal. They made hats, as if the stock market had just won the Super Bowl, or something.

Source Data:
Yahoo: DJIA Historical Prices


EconomicDisconnect said...

DOW 10,000? Where the hell is DOW 28 Million, or so the pension programs want to know:

I saw this girl today and I was like:
"I like her bangs"

Stagflationary Mark said...


There's only one way I can think of to get the DJIA to 28 million!

Sir Cort Godfrey of the Nessie Alliance summoned the help of Scotland's local wizards to cast a protective spell over the lake and its local residents and all those who seek for the peaceful existence of our underwater ally.

Just a thought, lol.

EconomicDisconnect said...

That was so cool I thought I would make songs with my hands, then I noticed my nails are getting long and I wondered:
"Do the chickens have large talons?"

Stagflationary Mark said...


I don't understand a word you just said.


I've fallen into a Napoleon Dynamite movie and I can't get up!

EconomicDisconnect said...

I got pulled away last night but I had wanted to go with that for a while!

New one?
"One speaks no english and the other learned english by watching Wide World of Sports, so you tell me which is worse speaking no english or speaking Howard Cosell?"

Stagflationary Mark said...


"New one?"

I'd be better off dead! ;)