Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Sword who wrote (4069)	10/13/1998 12:25:00 AM
From: Muhney	Read Replies (4) of 18998

Not that it means anything but.... Ralph Acampora (sp) has changed his mind. As of today he recommends going long and says that a short term bottom is in place. Maybe I should go short? Near-Term "Last Thursday we lowered our expectations for the Dow and the S&P 500 averages (see 'intermediate-term stock market outlook' below). On that very day there were a confluence of many negatives-deteriorating breadth as the transports, techies, and many large cap names were in a free fall. However, at the end of Thursday's session it was very clear that the DJIA did not break below the critical 7400 level. Fridays upside action was indeed very impressive. Therefore, we believe that a good near term low is in place. We expect a vigorous upside follow through. We believe the market's near term outlook is positive and should be played on the long side." Ibexx Thought you might want to know. Muhney

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