THE DOPEY DJIA

I was reading something the other day where some strategist figured out that if we deleted C and BAC from the DJIA it would only cost about 50 points- well I stumbled onto something a bit more startling- Lose the bottom 13 stocks from the DJIA and we barely lose 1,200 points-

Check it out:

JPM 181

HD 149

DD 149

DIS 133

MSFT 129

INTC 102

PFE 98

AXP 96

GE 68

AA 50

BAC 32

GM 18

C 12

There it is, based on the .1255 current DJIA divisor the bottom 13 price weighted DJIA stocks account for about 1,215 DJIA points, or 13 of the 30 (43%) yielding a grand total of 17% of the index. How dopey is this.