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Charles Dow might remark on the Dow Jones Industrial Average’s crazy roundtrip:
In September 2008, President George W. Bush addressed the nation to warn the economy had “frozen” (see video below for some fun memories). As the chart above shows, that was the beginning of some serious financial horrors.
But have no fear, Fed Chairman Ben Bernanke is here! Since the crisis started in 2008, the Federal Reserve and U.S. Treasury have been hysterically pumping liquidity into the economy to ward off a wave of deflation seen only during the Great Depression. So far, the liquidity rally has set in and, believe it or not, we are only a few hundred points off the Dow Jones Industrial Average’s ALL-TIME HIGHS.
SO, how did some of the individual DJIA stocks perform? Dow bellwether General Electric (NYSE:GE) has gone from a paltry $5 to a dazzling $22. Disney (NYSE:DIS) has rallied back from $15 to $52. Bank of America (NYSE:BAC) flirted with the brink at $3 and has since charged back to almost $10. Even Caterpillar (NYSE:CAT) dropped to $23 and has since staked claim to the low $90′s.
Now that QE3 has been announced, new highs are not an unreasonable destination. What do you think? When do we shock the minds of reasonable people and see the Dow set a new record high? Let us know in the comments below.
Which stocks will benefit from QE3? Check out our newest CHEAT SHEET stock picks now.
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