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Strategies & Market Trends : India Coffee House

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To: JPR who wrote (2183)	8/6/1998 10:01:00 AM
From: Shivram Hala	Read Replies (2) of 12475

> Here is Abby's antidote to Acampora's noxious fumes: > recommended asset allocation. For year-end 1998, she expects the > S&P 500 to easily surpass 1150 and the Dow Industrials to easily > top 9300. Her 12-month price target for S&P 500 is 1250. I think what she previously said was that the Dow would hit 9300 BY YEAR END. That's 5 months away and the dow was already past 9300. That means either the dow stays at 9300 for the next 5 months so abby is right or the dow rockets for 5 months and when you finally realize greenspeak (irrational exuberance) then "they'll all fall down". A correction was due but not the 20% the waffleman predicted. Personally I don't like the markets at these levels. PEs are too high. Projected growth rates are too high given the backdrop of the asian crisis. We'll have to watch consumer spending to know whether the bubble bursts or not. Japan is also a major concern and I expect china to devalue a little by little towards the year end or early next year unless japan fixes it's banking crisis. As for me I'll take the seats near the exits and play the market as I see it.

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