Dow 20k

[StormRichards]

Is today going to be the day? Tomorrow? By the end of the week?

[MooseBucks]

I'm going with it breaking 20k today.

[disneysteve]

Is today going to be the day? Tomorrow? By the end of the week?

I have no idea. Of course, it also doesn't matter. There is nothing any more special about 20,000 than there is about 19,957 or 21,246 or any other number. It's funny how folks get caught up in watching this sort of thing.

Also, mathematically, going up 1,000 points becomes less and less significant the higher the index goes. From 9,000 to 10,000 is an increase of over 11% but from 19,000 to 20,000 is only a little over 5%.

I'm much more concerned with the long term return of my investments than I am with what the DJIA happens to be. I'm also more concerned with the S&P 500 than the DJIA since I invest in an S&P 500 fund.

[StormRichards]

I have no idea. Of course, it also doesn't matter. There is nothing any more special about 20,000 than there is about 19,957 or 21,246 or any other number. It's funny how folks get caught up in watching this sort of thing.

Also, mathematically, going up 1,000 points becomes less and less significant the higher the index goes. From 9,000 to 10,000 is an increase of over 11% but from 19,000 to 20,000 is only a little over 5%.

I'm much more concerned with the long term return of my investments than I am with what the DJIA happens to be. I'm also more concerned with the S&P 500 than the DJIA since I invest in an S&P 500 fund.

[cornfieldj]

I was watching this almost nonstop for a couple of days. My editor said we'd run a story on it the second it hit. Then I began thinking, A watched index never boils. It didn't hit 20,000 because I was always looking at it. So you can blame me.

Also what DisneySteve said. It doesn't mean a thing. It's just exciting to people because the Dow is a bigger number. The S&P isn't even at 3,000 so it *seems* less important even though it's an overview of 500 companies, not 30.

[StormRichards]

In and of itself, Dow 20K is not significant—but it is in what it means for the larger market. Typically, major milestones have acted as ceilings, and for an index to break through takes a lot of energy. If this market has enough push to break through 20K convincingly, it is quite possible we may see it run much further, and that is what people are watching for. Not so much 20K, but what is likely to come after that.—Brad McMillan, chief investment officer at Commonwealth Financial Network.

[StormRichards]

We view the Dow 20,000 level as more psychological than material for our investment process. Still, the Dow 20,000 mark could become a catalyst that encourages more retail investment. While this would likely boost all major stock markets, we would become concerned about a retail-driven rally post Dow 20,000.

—Mike Bailey, director of research at FBB Capital Partners, which oversees $900 million in assets.

[StormRichards]

The number both matters and doesn't matter.

[StormRichards]

Is today the day? Getting awfully close.

Also, S&P, Nasdaq hit all-time intraday highs!

[disneysteve]

Is today the day?

I'll maintain my previous lack of caring.

[StormRichards]

I'll maintain my previous lack of caring.

I appreciate your consistency.

[StormRichards]

Today's high before Steve put in his massive SELL order that pushed it back down a little.

19,999.63

[rennigade]

Its been fighting for weeks to cross...not sure if it will be today though. If the markets close now my 401k will finally be over $250k...it didnt make it in 2016 but better late than never.

[StormRichards]

Its been fighting for weeks to cross...not sure if it will be today though. If the markets close now my 401k will finally be over $250k...it didnt make it in 2016 but better late than never.

It's pulling back so I don't think it will be today. It was just .37 away!!!

If Steve didn't sell off all of his Disney shares, it would have got there!

[StormRichards]

Its been fighting for weeks to cross...not sure if it will be today though. If the markets close now my 401k will finally be over $250k...it didnt make it in 2016 but better late than never.

I am a little over $250k. Maybe if we join forces and put $500k into McDonald's we can get it there.