Cheers rang out on the floor of the New York Stock Exchange when the Dow Jones Industrial Average crossed the 1,000 mark on November 14, 1972.

The average knocked on the door of 1,000 repeatedly for six years, but could never close above that ''magic'' level.

Not long after the industrial average punctured the 1,000 mark, a recession occurred. The brutal bear market of 1973-74 set in, pushing the average all the way down to 577.60 in December 1974. It would be late 1982 -- a full decade after the 1,000 milestone first passed-- before the industrials rose above 1,000 to stay.

This Week in Wall Street History

11/9/08