Stocks for the Long Run : the Definitive Guide to Financial Market Returns and Long-term Investment Strategies

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FIGURE 17–2

Dow Jones Industrials and the 200-Day Moving-Average Strategy (Shaded Areas

Are Out of the Market)

0

50

100

150

200

250

300

350

400

1924 1926 1928 1930 1932 1934 1936

7000

8000

9000

10000

11000

12000

13000

14000

1999 2000 2001 2002 2003 2004 2005 2006

January 1, 1999 – December 31, 2006

January 2, 1924 – December 31, 1936