Thursday, October 14, 2010

Applause for the NDX...New High Going back to end of 2007

Amazingly enough, nobody on the blogosphere has pointed out that yesterday the NDX (a.k.a. the Nasdaq 100) made a new high not just for this year...but going back all the way to the 1st day of trading of 2008.
The high yesterday of 2067.06 is the highest the NDX has traded at since January 2nd 2008. Also the close was the highest close since then as well.

That means the buy and holders in the NDX can safely say that they have been made whole again since the crash....(I hate it when those guys have a data point they can hang their hats on..)

This is a remarkable achievement for any stock let alone an entire index of stocks.

Given the pastel colored recovery that we have been having, it is hard to fathom the 100 companies that make up the NDX are better off today than they were at any time in 2008. Those were the salad days...sure the peak had been put just a few months prior but still...Salad days none-the-less.

I noticed this yesterday when I was drawn to look at a multi-year chart to double check that we had made a new 52 week high in the NDX (stupid hobby looking to see if there was a 104 week high made). I was really thinking that today I would wake up to a barrage of headlines about this amazing accomplishment by this index.

Yet...nothing is out there exclaiming this milestone...Crickets.

In any is an annotated weekly chart to help you all along...

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