The Dow just broke 15,000.
Yes, I know, the Dow doesn’t matter, it’s just IBM and Chevron, cap-weighted, it’s irrelevant, blah blah blah.
People in America and around the world don’t speak S&P 500 or Wilshire 5000, they speak Dow. “What did the market do today?” is always followed by the up or down point number on the Dow Jones Industrial Average. Always. Tell your mailman what the S&P did today and watch his eyes glaze over.
People remember where the Dow was when they got married or the first time their dad drove them to a cathouse on the outskirts of town to make a man out of them, even though they crying and scared and their heart wouldn’t stop beating, but they went through with it anyway, and then when it was over they went outside and dad’s car was gone and they had to call a cab, sobbing in the backseat all the way home. That wasn’t me, I was just speaking figuratively.
Anyway, this is a big one, no matter how clever you think you are.
No matter that Harry Dent is still plastering this filth on every financial site in creation:
Feel free to tell me why this is the top. Again. Tell me about the frothy sentiment and the Shiller ten-year CAPE and the supercycle and copper and margin debt and hyper-inflation and the next wave of foreclosures hitting the market and Cyprus banks and Carlton Banks and the rest of it.
I’m all ears, it’s all so fascinating 🙂
Keep talking. The bums will always lose.