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Why was it wrong for a trader to buy at Friday's close?

It appears the OP stumbled into the tiger pit he dug, which is a risk of setting such traps.

A very good observation about creating -- and retaining -- wealth.

Adjusted for inflation, it took about 30 years to reach breakeven. You are correct: timing is important.

The Economist

Is future data available?

The advice offered by New Guy is on the money. I had a similar problem a couple months ago. It was caused by the outgoing signal not being strong enough. It took them a couple trips, but Comcast got it fixed. Except for that minor glitch, Comcast's service has been excellent.

Are we suggesting that buggy whip manufacturers should be represented in the DOW? Should we not replace Dow companies that have been liquidated or acquired?

The re-route to MSN Money has been in place for a while. The link to the CNBC-related pages can be found at the bottom of the following page: http://moneycentral.msn.com/investor/home.asp

A voice of reason is heard.

I have not researched the DOW; I do know the S&P 500 has moved higher over the long-term on an inflation-adjusted basis.

For the sake of argument, let's assume this probability assessment is correct. Thus, the chance of the DOW moving higher is 50/50 each day. Will the size of those moves be the same? If such is true, the DOW will be flat over the long-term. Direction is only one factor ... magnitude must...

Approximation is sufficient for trading purposes.

I'm giving the nod to Science on this one. Risk management and position sizing do not create an edge, rather they help us to exploit one.

To unfamiliar eyes, musical notes on sheet music might appear random. The same can be true for people looking at words written in a foreign language.

Microsoft's "traditional business", e.g., Windows and Office, had operating profits totaling $5.4 billion last quarter (not revenues, rather profits). If you meant to say "non-traditional business", then I agree with the spirit of your comments, even though MSN had revenues of $564 million...

This thread might help you: http://www.elitetrader.com/vb/showthread.php?s=&threadid=57865

StrataSearch

With $100 billion in revenue, IBM seems alive and well. This is the fate you foresee for Microsoft?

It certainly explains a lot.