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Wall Street Journal

Dow 10,000 or more early correction of the story 2 October 2009 by Paola Pecora I still remember the first time that the Dow Jones index touched the 10,000 points for the first time on March 29, 1999. The Wall Street Journal thus inaugurated on 30 March 1999 and for the first time in its history, the colorful Edition (Edition that I keep), and was titled on its cover: Dow Industrials Top 10000. And within one of the many items concerning the granacontecimiento, mentioned: A number record of Americans participates in the market, directly through actions directly or indirectly through mutual funds, and a record of his wealth portion is linked to actions. It was at that time in New York, and I remember it was a very special day: the 10,000 seemed to be printed in neon lights, in newspapers, tv, in Times Square, everywhere that one lifted the view. Some restaurants were celebrating 10,000 in that day with the creation of a menu. In the city clearly cannot be He spoke of something else. The attendants chatted with their passengers about the best shares to buy, and taxi drivers with decimal accuracy predicted the next levels of the index.

The great mass inside, the smart capital began to sell. A year later, on 10 March 2000, the Nasdaq Composite technological index played 5.132 points, marking an all-time high and the beginning of the end of one of the great scams of history that culminated with the technological debacle, in which the index started to lose 80% of its value. The DJIA lost 33 percent until 2002. I remember a trader on Wall Street told me a couple of years later: the market cleared the technological scam. It is you can not lie to everyone all the time. It begins a new term in October, and after the rise since March; in the DJIA climbed 46 percent, the Nasdaq Composite by 63% and the S & P500 54%.