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Commentary: Lucky Number 777When you hit 777 in Vegas, you're considered lucky. Well, not the case today. 777 is the "lucky number" of value (USD) of today's drop in the Dow. Guess these guys aren't so quick, afterall (see 9/25 entry). Just as well, though - if they had passed the bailout bill, investors would refer back to the fundamentals, which are poor, at best. On the brighter side, if you're investing for retirement now, and have some time to absorb the bounceback, you're buying at firesale prices. Not to mention, the Dow is (currently) higher than 2001 levels - almost 3000 points higher, or roughly a 33% gain ($8,242 on 9/24/01 vs. $11,143 today). |
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