Joe Battapaglia, one of the three tricycle wheels of the great bull market of the 90s capitulated today - kind of ...
Battapaglia of Gruntal & Company does a "Weekly Perspective" column normally published each Monday on the Gruntal web site (http://www.gruntal.com/research/joeb.html) ...
His weekly column was not issued the last two Mondays ... I think the following numbers might give you an idea as to why.
While never admitting any error on his part (analysts never make mistakes ... we all know that), he basically moved his forecasts from 12/31/00 to 12/31/01 ... terrific Joe, thank you for your candor, sincerity and competence ... glad I take my own self counsel seriously as analysts and brokers are next to useless ...
... I can't wait to hear/read how Abby Joseph Cohen "comes clean" - my guess is it will be much the same ... no comment on her present forecasts, just new ones for next year ...
DJIA November 13 estimate for 12/31/2000 = 12,500
DJIA December 4 estimate for 12/31/2000 = no longer exists
DJIA December 4 estimate for 12/31/2001 = 12,700
DJIA December 4 4:00 PM closing = 10,560.95
Nasdaq Comp November 13 estimate for 12/31/2000 = 4,300
Nasdaq Comp December 4 estimate for 12/31/2000 = no longer exists
Nasdaq Comp December 4 estimate for 12/31/2001 = 4,300
Nasdaq Comp December 4 4:00 PM closing = 2,616.27
S&P 500 November 13 estimate for 12/31/2000 = 1,625
S&P 500 December 4 estimate for 12/31/2000 = no longer exists
S&P 500 December 4 estimate for 12/31/2001 = 1,650
S&P 500 December 4 4:00 PM closing = 1,325.05
Ken Wilson |
