DIA the ETF that tracks the Dow Jones Industrials top 30 seems to some analyst, pretty cheap right now.
Morningstar wrote that the Dow was trading at a "very hefty" 17% discount to the firm's fair-value estimate of 14,000, which is in turn based on estimates on the index's component 30 stocks. The Dow closed Friday at 12,348.21.
The index will have two new players, Bank of American and Chevron, come Tuesday morning while saying good-bye to two others, Atlria and Honeywell. Altria had much hype over the past year as a great play but I am not an expert on how the Dow 30 is comprised.
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