readers look at the
Dow Jones Industrial Average
hitting 10,000 like the day's temperature.
It's just another number.
"I wasn't around when the Dow broke 5,000, but I think too big a deal is being made about the 10,000 mark. True, the Dow has come a long way since October. But if economic fundamentals are fine and demand for equities (cash supply) is there, then the level of the Dow shouldn't be in question, rather its sustainability," writes
"I would argue that Dow 10K is a psychological barrier for the vast investment community," says
. "At this point it seems to represent a cliff that investors are scaling, eventually peeking their heads over to explore the unknown and then scampering back down to a more comfortable territory. My whole point is that there are no 'magic' numbers; only psychological barriers and buying opportunities. Dow 10K will be passed! Maybe not today but sometime in the near future. It's inevitable! What seems to be a ceiling today will be a floor tomorrow."
There is always room for a little cynicism. "All of the pundits will be asking the same inane questions they did at 9,000 and 8,000 and will get the same inane answers they did then," writes
has a slightly different take on the matter. "It only matters to me to the extent that it matters to everyone else. For that reason, I am interested in what your research turns up. I'm not any more bullish or bearish now that that number has been reached. I'm guessing that Y2K has a lot more significance than D10K in people's investment choices."
For some, Dow 10,000 does have some importance. "10,000 is only a number, but I expected a significant correction BEFORE we hit 10,000 and it didn't happen, so I am not fully invested, unfortunately," writes
, the timing of the Dow's move is a focal point. "Hitting 10,000 is not the issue; hitting it so quickly over such a short period of time is. Anyone who is not at least skeptical has not been in the market long, has a very short memory or is way too optimistic for their own good."
is looking at the event with history in mind. "I remember when I didn't believe 3,000 or 4,000. While I believe 10,000 might get tested a little more than other 'thousands,' ultimately it will be the point about which I hope to say to my grandchildren, 'I remember when the stock market was under 10,000.'"
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