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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.03

+3.0%

Nov 7 4:00 PM EST

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To: PaulM who wrote (4423)	12/18/1997 3:17:00 PM
From: Bucky Katt	Read Replies (1) of 116753

WHOA, LOOK AT THIS>Ralph Acampora sees bear market in '98 "It's a bear market," he told reporters. Acampora backed away from his previous forecast that had the Dow Jones Industrial Average reaching 10,000 by mid-year 1998. He said the Dow could reach a range of 8300-8600, but will likely sell off in the second half of the year, pulling the blue chip index as low as a range of 6000-6300. Acampora said he was convinced to adopt a more ''prudent'' stance toward the market by the ''broad deterioration'' in the stock market in recent weeks. Any recent strength in stocks has been focused on a few large capitialization ''mega cap'' shares, while smaller stocks have been hit, he said. ''I have a problem now,'' Acampora said. ''I don't have that many (stock) groups supporting the market.'' Who cound not see this coming a month ago? I bet PRU cleared their books way before they allowed him to say this in public.

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