Not many are talking about the simple fact that the Dow Jones Industrial Average is steadily trending up. As I am preparing this post, and as the news would have it, the Dow stands at 9806, about 500 off it’s highest point /1.
Why isn’t the media picking up on this? Are you asking that question readers?
Allow me to wade in. Try and stop me if you might. Just try it!
My guess is we are back to the insiders game. A valid, warm and comfortable position, to be sure. In many ways this is good for the country because we value ourselves relative to the Dow. If the Dow is up, much else that matters will follow.
It will be interesting to learn, providing we ever do, which of your neighbors were buying stocks only three months ago, when this trend actually began. It’s very likely, the analysts and media will pick this up at roughly 10,000. Then you will see some slight correcting for natural adjustments (or more likely ill-conceived reactions by those vapid day-traders), and then a prolonged push upward – once, mind you, the insiders have established themselves.
I know some of those analysts are thinking: “dammit Cork, quit tipping the scales”.
However, that’s me. It’s what a Prudent Gentleman does.
Why would anyone join the Navy when they can be a pirate?
Peace be to my Brothers and Sisters.
Brian Patrick Cork
1/ According to The Privateer, the all time high on the Dow Jones Industrial Average (DJIA) as of April 7th, 2008 was 14,164 on October 9, 2007. However, this is incorrect. if you look at the high for October 11th, 2007 you will see a market high of 14198.10. Our information is just better.