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Pastimes : Ask Mohan about the Market
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To: Rational who wrote (8469)11/18/1997 4:39:00 PM
From: Snowshoe  Read Replies (2) of 18056
 
I think the cumulative weight of evidence like today's analyst comment on GM will wear down this market over time. But the DJIA 8,000 is not that far away and we could even hit it on a feel-good Thanksgiving rally. However, it needs to close above 7715.41 first, which was the close on the Friday before the Oct. 27 meltdown.

Note: Super-bull Joe Battapaglia was on the tube last night predicting DJIA 9,000 sometime next year.

As for selective stock picking, at the moment I am focusing on a pot of IRA money that needs to be conservatively invested, and I don't see much that is attractive.
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