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To: goldsnow who wrote (43965)10/26/1999 6:37:00 PM
From: SwampDogg  Read Replies (2) | Respond to of 116759
 
This DOW news is just incredible. In one move they have changed the world financial system...I wonder why?

Market cap IN as of today's close...$905.74 Billion
Market cap OUT as of today's price..$ 82.31 Billion

The whole DOW balance will be reworked. The most watched index can now be manipulated by putting a bid under 5 stocks. The beta and PE of the DOW has now skyrocketed. IMO, this is setting up a 1929 type crash at some point. These stocks will not have a PE of 50 for ever and the contraction of these PEs will have dire consequences.