Happy Anniversary, Nasdaq 5k
March 11th, 2007 by Buck Woodford
As far as the public is concerned, good times must be back again in the stock market. Lower-grade mortgage loan meltdown? Who cares? 
CNBC took real pleasure flashing “breaking news” of new all time highs for the Dow Jones Indusitral Average during the last 5-6 months.. to the point of annoying even moderate bulls like myself during that phase. Even after the sharp recent drop, they contintue to incessantly air this ticker detailing how far the Dow is away from it’s late February peak. Unfortunately that’s a solid 600 points away now.
What’s gotten no media mentions — unlike a few years back — is the anniversary of the Nasdaq’s very temporary jaunt above 5000 (thanks Karl for even reminding me!).
The US stock market is looking shaky anyway, but this journalistic sentiment adds yet another red flag to the landscape.
