Aside from my various mountain climbs in the Alps and the Rockies, another "13,000 milestone" has finally been reached - the Dow Jones' closing last night!
The Dow Jones Industrial Average (DJIA) has not reached such a high level since May 2008, nearly four, long years ago. Since its rock-bottom level around 6,600 in March 2009, the average has nearly doubled! Unfortunately, I came in the game late - with my first stock being Chevron (CVX) in October, up only 3% - but that article is for another time.
However, I have had my luck from my late stock-market approach. My leading stocks, Philip Morris (PM) and the TJ Maxx brand (TJX) have grown more than 15% since I bought them a mere three months ago. The successful milestone indicates a very bullish economy, however, in the words of Warren Buffett, "Be fearful when others are greedy!" - an appropriate quote for this situation.
At this point, many stocks are heating up, like Apple (AAPL) and Priceline (PCLN). The recent spark in the market, allowing the milestone of 13,000 points to finally be reached, has completely changed my view of the stock market. Every day that the market climbs higher makes me feel even more uncomfortable, sitting on the tip of my seat anxiously hoping that a crash is not imminent. For tax reasons, I don't plan on withdrawing any of my stocks before the end of this year, adding to my nervous spell.
Unfortunately, the extra "leap day" this year hasn't helped the stock market, with a -0.41% return for the day (oh no!) - it's only a matter of time before the trend may reverse and the possibility of a double-dip recession still exists.
What is your motto for a bullish economy? Follow the site, refer it to your friends, and leave a comment!
Enjoy the extra day this year,
Alexander, Teens Invest! blogger
