Friday, September 11, 2009

The Dow Jones Industrials, 9/11/01, and - 1 World Trade Center

As we live through the eighth anniversary of 9/11/01, It's hard not to remember the events and tragedies of that fateful day. From a financial perspective, I find it a bit ironic that the Dow Jones Industrial Average closed at roughly the same level 8 years ago as it will today. On September 10, 2001 the Dow Jones Industrial Average opened at 9603, saw a high of 9672 and a low of 9494. It closed for the day at 9606.

Today I watched as the average bounced all over and around this level.
In just a few minutes the market will close and I'm looking at a DJIA number of 9607. I won't have this post finished before the market closes but I'm pulling for 9606. Why? Because in my own little numerology world, 9606 is a great number. Again you ask Why? Because 9+6+0+6 = 21! And in my book 21 is a great number.....

Oh well, the market just closed and it looks like the final number is going to be 9605.41

(go ahead - round that number up to 9606)

Now that's just freaky!

(or really poor investment performance)

Here's the chart for the DJIA over the last 8 years.

For comparison sake, .... look at the chart for the past 30 years:

It looks like the overall upward and positive trend of the DJIA somehow fell off track around the year 2000 and has been searching for a true course ever since. It tried to gain some steam in 2003 but fell off again in 2008. If you look carefully at 2009, it appears that we may be gaining some upward momentum again and are headed higher.

Only Time Will Tell.....

But I'm hoping that the DOW will charge higher well into 2013 which just so happens to be the projected completion date of 1 World Trade Center
(formerly known as the Freedom Tower).

(We need collective positive thinking- Help me out!)

Artist's rendering of 1 World Trade Center with Midtown Manhattan and the Empire State Building in the background.
Learn a lot more about 1 World Trade Center by following this link:


Bowie Mike said...

I have two DJIA stories to share.

Most people are familiar with the year 2000 problem where some software programs could not support storing the year 2000 (an oversimplification). But during the 1990s, the financial software world had a similar problem as the Dow headed toward 10,000. Some of the early software programs could only support a maximum DJIA value of 9999.

I was working in Boston when it was announced that baseball slugger Moe Vaughn (#42) was leaving the Red Sox. After reading that story, I happened to check on the market, and I saw that the Dow was -42 points for the day. Yeah, sometimes I think a little too much about numbers too.

intrepidideas said...

Good stories... I remember the DJIA 10,000 story. That was short-sided thinking. No one thought about the DOW going that high. Ya think we'll see it above 10,000 in the near future?

Bowie Mike said...

I predict Down 10,000 by June, 2010. You heard it here first! I also think that the Dow with reach 10,000 before unemployment is back below 8%.

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Bowie Mike said...

I recalled this blog post when I heard that the Dow hit 10,000 today - 8 months before I thought it would. I doubt it will stay up there for long. One thing is for sure. Tomorrow it will either go up, go down or stay the same.