Say goodbye to 9000 and another 7 1/3% of the market. That adds up to over 20% lost in the past ten days. Not being a trader, I was unaware of some of the cool tools available for watching it. I recently installed a ticker widget for Windows Vista, but it only updates every 15 min. or so. While it did get my initial attention, I just spent an interesting hour repeatedly updating my browser to watch the Dow dive. Clicking on the widget opens a new tab in my browser for “moneycentral.msn.com,” which has some nifty features that I started playing with. I was fascinated with the interactive chart that can be scaled from one day all the way back to 1928.
At Max Scale, it is thought provoking. It took 35 years for the DJIA to grow to $1000 after the crash of ’29. Then, it more or less stayed there for another 20 years. I suppose in the mid ’80s Greenspan’s “irrational exuberance” set it. The trend line at the end is a bit disconcerting, no?
We as a country went from producing goods, to borrowing and playing with monoply money as our chief occupation. Perot was right, we are just taking in each other’s laundry and trading basically worthless paper with each other. What is going to happen when those that now produce our goods overseas stop accepting our ubiquitious green IOU’s in trade for real products? ◄Dave►