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Wouldn't it be more appropriate to compare the Naz 00 top to the DJIA top of
29 as at that time the DJIA was predominately compiled of new economy type
stocks of the era?
The Naz has seen the excessive blow off which is typical of a bubble
formation parabolic rise etc.
I would believe that the DJIA may reach it's old high sooner that the Naz
will. Plus the fact that some of the DJIA stocks maybe replaced by more in
vogue companies over the next few years. The companies which have run their
course will be dropped. I'm sure T will disappear from the average. Imagine
if the DOW 30 still had the original 30 stocks at the peak of 29 still in the
index. This would probably provide an average of 1000? Maybe someone can
provide some historical data to see how close that number is. I believe only
a handful of those original companies exist today.
Just my thoughts,
Richard Jonec
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