Local fund investors bid up steel stocks, as they had a lot of idle money after unloading technology stocks.

What's important for investors to realize about the Dow is it's not just steel stocks and industrial-related stocks. There are growth stocks. There are financial, entertainment and industrial stocks. So when one sector isn't doing well, another sector may be doing well. And that's exactly what's propelling the Dow.

Mergers and acquisitions by foreign investors will be a market highlight this year. Banks, retailers and steel-making stocks will be favorites.

Investors favor steel stocks due to attractive price-earnings ratios and high dividend yields.

Investors need to think first, and not put money randomly into oil stocks.

It's a fairly risky fund, but if you want to buy the stocks of the Nasdaq 100, that's a way to do it.