One thing's for sure: Dow 10,000
is meaningless. Like Dow 9,867, it's just a lonely
number, no more important than the 9,999 that came before
it.
What
isimportant, though, is investor psychology. And
it's hard to deny that a nice, cozy, round number like 10,000
gets people's attention and brings new interest to the
market. That's why on Wednesday,
we askedyou what you thought awaited Wall Street after
Dow 10,000. More than 5,000 of you responded, so it's worth
analyzing what you had to say: Â
Question
Percentage Picked
Still Going Higher
19%
Expect a Big Correction
27%
Drift Back and Forth
42%
Don't Know/Don't Care
12%
Compare that to a
similar pollof nearly 23,000 respondents we ran in early
March, when Dow
5,000was on people's minds:
Question
Percentage Picked
We're at or Near the Bottom
11%
Still Going Lower/Dow 5,000
78%
Don't Know/Don't Care/Clinging to my Gold
11%
And almost
exactly a year ago, with the Dow at 8,500, we asked how
low it would go:
Question
Percentage Picked
Already Bottomed
10%
7,500
54%
5,000
24% Continued... |