2008 Performance of the Dow 30
In the table at right, we highlight the year to date performance of the thirty Dow stocks. Clearly, the stocks haven't gotten off to a very good start. Just two stocks in the index are up over the first three trading days of the year. PFE is up 0.44% and KO is up 0.78%. Intel (INTC) leads the declines at -14.97%. HD and HPQ are down a little over 7%, and most stocks are down between 3% and 6%. The only news on Intel since the start of the year has been a couple of downgrades from Banc of America and JP Morgan. Should two downgrades and a change from 07 to 08 on the calendar really have caused a $150 billion company to lose 15% of its value?
Evidence indicates that an Elliott Wave 3 Down is actively underway in the stock markets: I suggest that one use his investment wealth to purchase gold at an internet tradable vault; and one use his retirement wealth to purchse a gold ETF, GLD or IAU, and use margin credit to go short a select group of ETFs. Please click on my name to be directed to my blog article for details.
Posted by: Richard | January 07, 2008 at 12:20 AM