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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.44

+0.6%

4:00 PM EST

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To: HairBall who started this subject	10/1/2002 9:46:17 AM
From: zonder	Read Replies (1) of 99985

Merrill cuts 12-mo. target for S&P 500 ($SPX) Merrill Lynch chief U.S. strategist Richard Bernstein lowered his 12-month target for the S&P 500 Index ($SPX) to 860 from 960 and maintained his recommended equity allocation at 50 percent, which he said was the lowest stock allocation on Wall Street. "Investors have used corporate governance and the war as excuses for the market's poor performance, but few seem ready to admit that there continue to be significant fundamental problems," Bernstein said in a note to clients. The S&P 500 has opened Tuesday's session up 3 points at 818, suggesting a 5 percent appreciation potential to Bernstein's target.

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