I’ll mail the first person that knows what that number means $100 dollars. Okay no I wont, but if you did know it good job! For those of you that still haven’t caught on 235.44 is the point increase the Dow Jones Industrial Average (DJIA) went up yesterday. If you don’t know what the DJIA is check this out.
Why is the DJIA going up a good thing? Because it makes this debt punchers Roth IRA and 401K accounts go up. While the DJIA does not necessarily reflect the performance of my particular retirement funds, it does serve as a handy financial snapshot in to the general performance of the stock market.
I check my iphone (that’s right J money I got the iphone) religiously throughout the day to check on the performance of the DJIA. For me, following the DJIA is much like watching a sports game. I typically don’t care what happens in the first three quarters of a football game, but you better believe I’ll be glued to my seat to watch the last 15 minutes. The DJIA is no different. I check my phone early in the morning to see how the market is performing, but I really don’t care what’s going on until about 12:30pm. I live on the west coast (aKa the Best Coast) and the markets close at 1pm my time. At about 12:30 I start watching the markets like a hawk. Sometimes, its a real nail biter. The DJIA can be down 150 points one minute and up 200 the next. The swings in the market get real crazy in that last hour.
Don’t make fun of me, but I recall watching the news one day as the market was coming to a close. I was all by myself in the living room and was feeling nervous that the DJIA was going to close in negative territory. Kinda like watching your college basketball team down by 6 with a minute in a half to go. You think the game is over, but really it has just begun. Anyways, I was watching the market and it began to rally in to positive values. I remember sitting on the edge of my seat watching the value of the DJIA and checking my clock to see when the market would officially close. On that day, Wall Street rallied huge and closed in the green. I literally jumped out of my seat and began cheering. It was this moment in my life, that I realized I am a finance nerd and darn proud of it.
If you haven’t tracked with the message I have preached today, understand this. DJIA up = Booyah! DJIA down = poop. I hope I am not the only PFer out there that has cheered by himself after a good day in the market. Anyone else share a similar experience? Anyone? Anyone? Bueller, Bueller?