How Now, That Dow?

I'd love to see someone challenge this morning's hysterical TV folks--other than CNBC analysts-- to explain the significance of the Dow passing the 12,000 mark. Or even explain what the number represents? Any takers?

Here's the definition of the Dow Jones Industrial Average from investordictionary.com:

A measurement of market price movement for 30 widely held stocks listed on the New York Stock Exchange. The average is computed by adding the prices of the 30 stocks and dividing by an adjusted denominator.

And from the Advanced Financial Network

Dow Jones Industrial Average

The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. The Dow, as it is called, is a barometer of how shares of the largest US companies are performing. There are hundreds of investment indexes around the world for stocks, bonds, currencies, and commodities.