Dow Hits 10,000 : LUSENET : TimeBomb 2000 (Y2000) : One Thread Market Monitor

Please post any findings you have over the next day or two concerning the handling of the 10,000 figure in the financial systems.

Thanks, Mr. K

-- Mr. K (market@alltime.high), March 16, 1999


Here is a site that will give you a better picture of what is going on. It shows the number of NYSE advancing and declining stocks and volumes.

Reuters Moneynet Snapshot


-- Ray (, March 16, 1999.

Yup, and as soon as it did, it took a nose dive 70 points. Maybe there is something to this Dow10K problem. <:)=

-- Sysman (, March 16, 1999.

Check out Its strange but their graphs never make it to 10,000. Also they are not reporting the current numbers as negatives. They are reporting them as positive. They have something wrong.

-- XXX (, March 16, 1999.

I recall much speculation blither blather in 1966 about whether the Dow would surpass 1000 into a new era.

It did surpass 1000 for a day or so and then it melted in due course to just over 500. Many previously popular new era stocks had seen 80% and 90% declines by 1976.

Most folks are not aware or have forgotten that 16 years passed after 1966 before the Dow advanced beyond 1000 to higher levels.

Long term views can sure suffer nasty reversals at peaks of euphoria.

P.S. It took 25 years for the market to recover to it's 1929 highs in 1954. Long term investment in those days meant a lifetime to break even.

What is left of your lifetime?

-- Watchful (, March 16, 1999.

Watchful, when the Dow hit 100 in 1906 it took 18 years to top this number again. As you point out in1966 the Dow hit 1000 and it took 16 years to exceed this level again.


-- Ray (, March 16, 1999.

I have discussed peak performance euphoria with others in the market. It's like climbing Everest. The "team" now feel as if they have reached the summit, and the profit taking is the descent. It is a silly psychological high, somewhat like out-of-shape armchair football experts.

Well, I am rather eyeing the rapid decline with interest as well, SYSMAN. It may take time to see if there were run-amok sell-offs triggered by confused automated "sell" orders. Mr. K

-- Mr. Kennedy (up@the.peak), March 16, 1999.

Hi Mr. K! It' creeping up again. Will be interesting to see what happens when it hits the big 10 next time. <:)=

-- Sysman (, March 16, 1999.

This 10,000 mark is more of a psychological benchmark, as a goal to be reached. Once it closes over 10,000. It will be interesting to see what happens then.

When the Dow first hit 1,000 back in the Nixon years, it took a drop down to 800 and stayed there for a while. As for the 5,000 and 7,500 mark, I'm not so sure about this...need to do some research :-)

-- Tim (, March 16, 1999.

IMHO, I think many people set their "sell" points at 10,000 because it is a trip wire point - and so they could "capture" the max point today - thus causing a rapid drop right after the number got to 10,000 - even if "older" automatic sales/market tracking programs didn't trip things off by thinking it (the Dow) went from 9999 to 0000 in an instant.

I'm assuming here that "newer" versions of these tracking programs would be "reprogrammed" to allow 99,999 Dow averages. Whether the older versions (max of 9999) would be still in use is an open question - I'd figure anybody who wants to automate his shares would be "trekkie" (trendie ?) enough to demand the latest and greatest so nobody else would think he is "out-of-date" by more than 5 minutes.

Now - thinking of how they are behaving - do you really expect the "Dow" to stabilize and everybody "stand pat" nearer to 2000 - just so the "market" won't plummet - these guys will be beating people up to sell out first as soon as it begins dropping in Oct - Nov..

-- Robert A. Cook, P.E. (Kennesaw, GA) (, March 16, 1999.


Good input.

Dow at its then peak of 100 in 1906. Now multiplied by 100.

Meantime, the purchasing power of the denominating currency has been embezzled by 95%?---98%?

In real terms, has it taken 93 years to double or multiply by 5?

A decline of 50% to 80% might even break even with 1906. Ouch!

-- Watchful (, March 16, 1999.

they should go to a logarithmic scale.

Let's see, at 10,000 then if we have a 50% gain that's 15,000... could happen before year's end. These number games are silly

-- e (, March 16, 1999.

This evening someone speaking on NPR's Marketplace said "10,000 is just a number".

10,000 is not high enough. Investors want HIGHER profits. uP!

12,345: Will it rise or will it dive?

-- dinosaur (, March 16, 1999.

As usual Robert, very good point. TRENDIE - I like that! <:)=

-- Sysman (, March 16, 1999.


I think Oct-Nov will be too late this time. Mid summer is my guess. However, it really is a question of when, not if.

-- Mike Lang (, March 16, 1999.

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