ajtj99's Market Pulse

[phill]

aj, I gotta stand with the Big Tech thesis - here's why:

the majority of financial damage to the INDU was done before the first of the year. today, the 6 financials and quasi-financials (AXP/JPM/GE/BAC/C/GM) are only 8.2% of the Dow. because 2 of them (AXP/JPM) are up for the year, their combined losses since Jan 1 amount to only about 0.63% of the DOW, or about 8%, less than the overall INDU. thus, their contribution is immaterial and the DOW, with or without them, is down 9%.

regards,

phill