Dow 10,000: The First Time We Were Here.

Boston Boys {Who I don't talk about enough} are out with some notes on where we were the FIRST time the Dow Crossed 10,000.

With the DJIA approaching 10,000 again, let’s reminisce about 1999, the year it first passed that magic level on March 29th.

-Millennium by the Backstreet Boys was the best selling album
-American Beauty won the Academy Award
-The Euro was established
-SpongeBob SquarePants aired for the first time
-Hugo Chavez was elected President of Venezuela
-Karl Malone, Pudge, Chipper Jones, Jagr and Kurt Warner won MVP awards
-The average price of a gallon of gasoline at the pump was about $1.20
-US nominal GDP ended at $9.6b vs $14.1 as of Q2 '09
-Also, on March 29th 1999, the DXY was at 100.36 (now 75.60)
-The CRB was at 192.40 (now 269.15)
-Gold was at $280 (now $1,060)
-Oil was $16.44 (now $74.80)
-Corn was $2.32 (now $3.85)
-Copper was $.62 (now $2.83)
-The 10 yr yield was 5.19% (now 3.38%)
-The fed funds rate was at 4.75% (now 0-.25%)

Oh, how time flies.....

*Long ETFs related to the Dow Jones Industrial Average for client accounts.