"Using the Dow as a barometer is for rookies."

I have to dissagree on this one. While I certainly agree that using the DOW to benchmark your portfolio returns is for rookies at best, and insane at worst, the DOW is still one of the best measures of investor sentiment available. When you consider the fact that 99% of investors and their advisors are rookies, there is a significant majority who feed into this barometer.


"The Stock Market Barometer" by William Peter Hamilton is an excellent book, and even much more sophisticated technical analysis techniques still rely on movements in the DOW to provide confirmation of either directional change or momentum.

__________________
Jason Priest
1999 E430
1995 E420 - retired
1986 420SEL - retired