WEDNESDAY OCTOBER 14, 2009

Dow 10,000!

My uncle was the Director of Fire Safety at the New York Stock Exchange.  When the Dow Jones Industrial Average broke the 10,000 mark, he sent me a NYSE "Dow 10,000"  golf hat.  That was eleven years ago!  In 1998!  Today, the NYSE was once again celebrating the 10,000 mark by giving out "Dow 10,000 2.0" hats.  Cute!   The media was all over the news, with minute by minute watches and special programming. 

The reality is that 10,000 is just another number.  In fact, the market has criss-crossed the 10,000 mark over fifty times since it first broke the barrier in 1998.  Fifty times!  That's a lot of hats!  It has also crossed 9,756, 9,412 and 9,543 many times with no fanfare whatsoever.

Folks, 10,000, is just another number.  Let's not get carried away here!  Whether the market continues to roll or correct, it has little to do with 10,000.

POSTED AT 1899-12-30 21:42:00.0

KEN ENTENMANN, CFA
SENIOR VICE PRESIDENT AND
THE DIRECTOR OF INVESTMENT MANAGEMENT SERVICES

Ken is a Senior Vice President and the Director of the Trust and Investment Services at Alliance Bank, N.A. He has 23 years of investment experience and oversees the management of assets totaling $1 billion. He holds a B.S. in Applied Economics and Business Management from Cornell University and an M.B.A. from the William E. Simon Graduate School of Business Administration at the University of Rochester. He has also earned his Chartered Financial Analyst designation. He is a member of the Executive Committee of the Trust Division of the New York Banker's Association. He is also a director of the Central New York Community Foundation.

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