Friday, November 28, 1997


The Daily Dow
by Jerry Thomas (TMF [email protected])

SHERMAN OAKS, CA. (Nov. 28, 1997) -- Today is traditionally the busiest shopping day of the year. All across the country, shoppers are girding their wallets and stampeding into the stores to buy stuff.

But not on Wall Street.

Business was slow today. Really slow. In fact, they closed the shop early.

It's never easy to predict what the market will do on any given day, but the one dead-solid lock -- probably the only market prediction I'll ever be able to make with confidence -- is that the day after Thanksgiving is going to be slo-o-o-ow.

Ever see paint dry? That's nothing compared to the activity on the floor of the New York Stock Exchange on the fourth Friday in November. Today trading for many stocks struggled to reach even one-fifth of its usual volume.

The people who run the 30 companies that make up the Dow Jones Industrial Average know this too. There was nary a peep from their PR departments. Industry flacks were not issuing press releases, in the first place because they knew that nobody would be listening, and in the second place because they were all out in the malls shopping for something nice to give Aunt Millie, just like everybody else. Obviously, they have no sympathy for this poor Fool in his freezing Southern California hovel who is trying to write something pithy.

Of course, ignoring the market is nothing new to Dow Dividend Approach investors. Those who adopt this simple approach to investing enjoy the luxury of escape from the day-to-day gymnastics of the stock ticker. 364 days a year Dow Approach investors behave like the market as a whole is acting today, blithely turning their faces from that endless temper-tantrum we call the stock market. On the 365th day, they take a few minutes to determine their new Dow Approach choices, and then it's back to other things. Some wait even longer, trading only once every 18 months to take advantages of the breaks in the new tax laws.

Get a life? Dow Approach investors have got one. Instead of being consumed by their investments, they have the time to indulge in the real passions of life. It's a pleasure, once every year, to see the whole market behave Foolishly for a change.

Enjoy your long weekend, Fools!

TODAY'S NUMBERS
Stock  Change   Last
--------------------
T    -  1/16   55.88
GM   +  13/16  60.94
CHV   +  3/8   79.81
MMM  +  3/16   97.44

           
                  Day   Month    Year
        FOOL-4   +0.31%   5.48%  26.08%
        DJIA     +0.36%   5.12%  21.32%
        S&P 500  +0.40%   4.46%  28.98%
        NASDAQ   +0.38%   0.44%  23.97%

    Rec'd   #  Security     In At       Now    Change
   1/2/97  479 AT&T          41.75     55.88    33.83%
   1/2/97  153 Chevron       65.00     80.19    23.37%
   1/2/97  120 3M            83.00     97.44    17.39%
   1/2/97  179 Gen. Motor    55.75     60.94     9.30%


    Rec'd   #  Security     In At     Value    Change
   1/2/97  479 AT&T       19998.25  26794.13  $6765.88
   1/2/97  153 Chevron     9945.00  12268.69  $2323.69
   1/2/97  120 3M          9960.00  11692.50  $1732.50
   1/2/97  179 Gen. Motor  9979.25  10907.81   $928.56


                             CASH   $1409.35
                            TOTAL  $63042.48