Okay, what about this new Dow high?

"Yesterday, the Dow hit a new all-time high. We scarcely believed it 
was possible...since it seemed obvious to us that the bear market that 
began in January of 2000 had not yet fully expressed itself. Which is 
to say, after going up...stocks were supposed to go down. Actually, 
they have gone down in real terms; even at today's new high, the 
inflation-adjusted Dow is still nearly 20% below its level of six years 
ago...

http://investing-software.com/commentary/articles.html?next=2738

Ian






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