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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Boca_PETE who wrote (4438)4/3/1998 10:28:00 AM
From: Wally Mastroly  Read Replies (1) of 42834
 
How about Dow 10,000 instead of 9000? Birinyi: 'Don't sell!' Market strategist tells CNN he's still looking for 10,000. (But I think he's a little less confident then he was during Wall Street Week's year end show)

A couple of quotes:
"BIRINYI: Well, again, that's part of the whole circumstance that concerns me. They're all just sort of being relaxed and taking all this for granted and upping their numbers. The market has a tendency to surprise you, and so I'm a little bit troubled by the fact. Not only that they're being so bullish, but the rationale behind their bullishness is not very solid. They're bullish because the market's up, and that's not good.
DOBBS: And earnings?
BIRINYI: Earnings are not that critical. In 1994, we had the best earnings comparison of the decade. Earnings were up 44 percent that year, and the market only gained 1 or 2 percent depending upon how you look at it. So earnings are important, but they're not the only thing that makes the market go higher."

cnnfn.com

Then there's the contrarian view:
stocksite.com

I think BB's view would be closer to Birinyi's than the Contrarian's. I am also anxious to hear Bob's latest views on the continued bullishness - as well as the oscillating Japan situation. (Hope baseball doesn't pre-empt his weekend broadcasts for me).

I think, however, it might take a move by the Fed to increase interest rates, coupled with a continued increase in bullishness before Brinker would turn a little bearish. I also think that Greenshades might hint at such a move before he actually does it.
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