April 24, 2006 | posted by Michael Baxter in Uncategorized |

The Dow Jones is now within a whisker of hitting an all time high.
In January 2000, when shares in Dotcoms were booming, and Google was a little known company, the Dow Jones Industrial average stood at 11750.
When markets realised that the Internet was a dream, and that online advertising and shopping would never take the world by storm, markets crashed. Some drew analogies with the crash of 1929, and reminded us that it took the Dow 25 years to return to the level it stood at before the crash. Could history repeat itself, they asked?
Without wanting to predict market movement, it would appear pretty safe to say these doomsayers were wrong.
The Dow Jones Industrial average is now just 150 points from the record. It hit another five year high at close of play on Friday.
But spare a thought for the NASDAQ. Dotcoms might be booming again, Internet advertising and shopping has proven to be reality after all, and Google might be making more money than even the wildest bulls dreamed possible a few years ago, but at 2342 points, the US market primarily for techs and other fast growth stocks is still less than half its peak value.
Don’t be surprised later this week, however, to hear mass media coverage of the Dow Jones hitting an all time high.