Dale,
RE:"Ralph Acompora has not only been wrong, but he has been
horrendously wrong.
Last summer the Dow was at about 8,500 and he said "it'll go to
10,000 before year end". The Dow then fell towards year end to
about 7200, at that point he said "its all over, its a bear
market", shortly after he said that the Dow made a big
comeback and went to 8,500, "he then said the dow will go to
10,000"
You could flip a coin and do better, but the WS financial rags
have ordained him a guru and so I guess he is."
You must be young or new to investing. Back when the DOW was around 4,000 Ralph Acompora came out and said the DOW was going to 7,000.
Most people thought it was nuts. If he's made any mistakes it was, like you said, vascilating a bit when the DOW got blindsided by the fallout in Asia. None of these guys are perfect (well maybe Paul E.) but if you had followed his advice years ago, at least you would have got to 8000 and beyond. Not exactly what a lot of "experts" were saying 4,000 plus points ago.
Understand, it's easy to sit up in the cat bird seat and pick apart those who venture a guess at the future. All we really need is next Sundays newspaper in advance...but i sure as heck wouldn't bother with the Stock Market...i'd buy lotto tickets!
Also, it was Ms. Ibexx would called Ralph a TA guru. I was just agreeing with her.
Jim |
