Let us all evaluate this Ralph Acampora call 6 months from now so he can be properly thanked by the American people for this timely call. In any event he should be nominated for Clown of the Year
Subject 32146
Dec., 21 1999
NEW YORK (Reuters) - Ralph Acampora, the well-known chief technical analyst at Prudential Securities, said the Nasdaq should smash the 5,000 mark next year as stocks look forward to another year of double-digit gains.
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For 2000, Acampora said:
DOW move to 13,500-14,000.
S&P moonshot to 1,700 and 1,800.
Nasdaq will jump 37 percent to 4,800 to 5,000.
Acampora is a technical analyst, meaning he uses charts of past stock performance rather than fundamentals such as sales or profits, to make his forecasts.
He then did some cheer-leading On the 24/7 TV Touting bonanza at CNBS. MoMo picks for the new-era included DELL, INTC, AA.Com, & other margin driven tech fluff.
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