record high

Hey

The Dow reached a new record high today. It seems to me that this is a product of simply the organizing of companies that is making the index as a whole more expensive. With the monster stock buybacks and mergers and acquisitions, the index is simply being revalued.

I think the difference between this bull run and the last one is the lack of new products on the market. Whereas in the 90's, new internet products couldn't get to the market fast enough, this bull market is full of companies that are simply reaching the maturity of the internet product driven market. I feel that this bull run has opened the world to the rest of the world and at the same time flattened it for all to see.

With that said, I think this market has a long way to go to the upside. This market is going through a real estate correction, and some of the better known emerging markets (China, cough, cough) are going through some troubles. This tells me that investor's money is being put into companies in the dow and the nasdaq.

If you look at what the market has done technically, it has been steady. To look for a correction, look for a major move, then start to wonder. We have not had that 300 point day to the upside. I think that will come in the fall.

As for me, I have my few shares of Pepsi and the occasional option play.

The Wikiwealth portfolio consists of the following:
Pepsi Stock (www.pepsi.com)
Checkpoint June 25 Call (www.checkpoint.com)
Sharebuilder Money Market (www.sharebuilder.com)
Optionsxpress Money Market (www.optionsxpress.com)