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Pastimes : Ask Mohan about the Market

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To: John Hunt who wrote (12304)	12/24/1997 3:30:00 PM
From: Don S.Boller	Read Replies (1) of 18056

John: No doubt you know this, but others may find interesting. An old broker' adage says stocks (DJIA) are overvalued when the yield drops below 3%...but that's an old adage. Currently only three Dow stocks yield over 3%; MO, GM and JPM!!!!! ALSO the Dow divisor is now at a historic low of 0.251......so, if 29 of 30 are unchanged at a given moment and IBM drops 5 points - the DJIA will be down 20 points. A one point move in any of the thirty translates to four points in the index. Happy, Healthy and Prosperous times to all. Don

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