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Investing

DJIA, At Four-Year High, Will Rise Further

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By Douglas A. McIntyre Published

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The DJIA reached the level where it last was at the end of 2007, the year when the index peaked. At the close, the Dow was 13,279.32. Its all-time high of 14,164.53 was set Oct. 9, 2007.

There are a number of reasons the index will close in on the record before mid-year. The primary one of these is that many analysts believe the PEs of a number of large companies are still well below what their prospects should dictate.Among these are the financial firms in the index which have been beaten down by concern about consumer spending and their balance sheets. These include American Express (NYSE: AXP) and JP Morgan (NYSE: JPM). Microsoft (NASDAQ: MSFT) is also mentioned as an undervalued stock in the index in light of its recent earnings and the upcoming launch of Windows 8 which should cause upgrades of the operating systems on hundreds of millions of PCs.

Cisco (NASDAQ: CSCO) and Hewlett-Packard (NYSE: HPQ) are also mentioned from time to time because their prospects and assets are considered much better than their managements.

Douglas A.McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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