Dow Jones Industrial Average ETF: DIAMONDS $360?

ETF Trends

Here comes the Dow 36,000 talk again. After all, what’s a 150% rally between friends?

SPDR Dow Jones Industrial Average ETF (DIA) closed at $143.15 a share on Thursday after rising to a new all-time high this week. [What Next After Dow Record?]

The Dow rising to 36,000 translates to a share price of $359.65 for the Dow ETF, known as DIAMONDS among traders.

James K. Glassman, co-author of the ill-timed 1999 book “Dow 36,000,” is out with a Bloomberg commentary this week saying that level is attainable again.

“One way stocks could jump to 36,000 quickly would be for fears to subside and P/E ratios to rise,” he wrote.

The Dow ETF holds about $11.2 billion in assets under management. Even without any inflows, a 150% rally would take the ETF to $28 billion in assets. Anything is possible, right?

SPDR Dow Jones Industrial Average ETF

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The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

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