20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened: On Nov. 1, 1999, Microsoft Corporation (NASDAQ:MSFT) and Intel Corporation (NASDAQ:INTC) were added to the Dow Jones Industrial Average.
Where The Market Was: The Dow Jones Industrial Average traded at 10,648.51, and the S&P 500 finished the day at 1,354.12.
What Else Was Going On In The World? In 1999, Jack Kervorkian was convicted of second-degree murder for the assisted suicide of patient Thomas Youk. A shooting spree at Columbine High School resulted in the death of 13 students. The average price of a new house was $131,750.
Nasdaq Invades The Dow: As part of a major shake-up of the Dow Jones during the tech boom of the late 1990s, the index added Microsoft and Intel. At the time, the two stocks made history as the first-ever Nasdaq-listed stocks included in the century-old index.
To make room for the tech invasion, the Dow booted Goodyear Tire & Rubber Co (NASDAQ:GT), Sears Holdings Corp (OTC:SHLDQ), Chevron Corporation (NYSE:CVX) and Union Carbide from the index. In addition to Microsoft and Intel, new members Home Depot Inc (NYSE:HD) and SBC Communications, now AT&T Inc. (NYSE:T), were added to the index.
Microsoft and Intel remain Dow components to this day, and both companies are among the largest U.S. tech stocks by market cap.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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