Thursday, January 26, 2017

DOW Breaks 20,000!

It happens during the current occupant's tenure, he gets the score. Never mind that another quarterback drove the ball down to the five yard line, he was the guy who takes the snaps when the ball crossed this particular goal line.

Actually, the weirdness is that it took so long to get here after the last one. Given the traditional end of the year run, a new and a definitely pro-Wall Street administration, with a declared reduction in watchdogging and ethics, the question is why it didn't happen sooner. The market had been rising through the year, but showed an almost hesitancy in crossing this milestone. Working against it possibly has been a general uncertainty of what this new administration is really going to do and a chief occupant of the White House that has a tendency to lash out against anything that displeases him (with the result that an errant tweet can cost a company tens of thousands of values).

Back in 2009, the DOW was below 7,000. So while it's nice to celebrate the most recent milestone, I have to note that it'll have to get to 33,000 before we get a comparable run. Hey. it could happen.

More later,