I love my iGoogle page, and right at the top I have the Stock Market widget where I keep an eye on the DOW and a handful of other stocks.
I noticed today that the DOW ended up over 8,400, which is pretty incredible. I saw the number going up in the morning and expected a big selloff at the end. So starting high and ending high is unusual in these post-housing market crash days.
The trends are going up, but we’re still down in the 1 year and 5 year timeframe.
One Month To Date
3 Months To Date
6 Months To Date
I enjoy watching these charts, especially when the numbers are in the green. But I feel the obsession with stock performance detracts from the real question of whether any particular business is sound, profitable, and producing the best products or services possible. The stock market isn’t based on fundamentals anymore — it is more and more become emotion based. So if these recent positive numbers mean anything, they show the increasing confidence people have in the Obama administration and the economy as a whole.
Update: May 9, 2009
As of Friday, May 8, 2009, the DOW was almost even in the 6 Month to Date value, only -369.16 from November 10, 2008. That I’m even updating this post shows both how happy I am that it has come so far, and how paranoid I am that it may fall again. For everyone’s sake, keep praying for a quick recovery.