Acampora Tells StockHouse.com Nasdaq to Double in 5 years
Discloses Top Picks For New Millennium: Microsoft, Dell and Immunex
NEW YORK, Jan. 3 /PRNewswire/ -- Ralph Acampora, Director of Technical Research at Prudential Securities and one of Wall Street's top market technicians, told StockHouse.com the US stock market "could literally double from here over the next 5 or 6 years." He also predicts the Nasdaq could break the 5,000 level this year. Key to his longer-term bullish prediction is his view that similar to the 1920s and 1950s, this market is and will continue to be driven by concepts, not earnings. In addition, with a global view of the markets, Acampora sees opportunities in Germany and Italy as the introduction of the Euro currency and an increasingly deregulated environment are expected to catapult those markets to new heights.
Acampora's top picks for 2000 are Dell (Nasdaq: DELL) and Microsoft (Nasdaq: MSFT), which he expects will double in the coming year, and Immunex (Nasdaq: IMNX), which he predicts will go up by 50-75% this year. Regarding Dell and Microsoft, Acampora states, "The thing that impresses me so much is that they get rotation. Just think about what they did this year versus Cisco or Yahoo!. They did nothing," explaining further that, "As the Yahoos slow down, these guys are picking up. Technically, they look like huge, huge winners."
View the entire interview online at stockhouse.com .
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