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Strategies & Market Trends : Rande Is . . . HOME

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To: ~digs who wrote (3123)	2/9/1999 3:53:00 PM
From: Bucky Katt	Read Replies (1) of 57584

Maybe, we have to wait & see>>>Prudential Securities technical research director Ralph Acampora said Tuesday that he expected the Dow Jones Industrial Average to hit a primary target of 9,800 this year following an initial downward correction. ''You know what I think about the stock market. I am bullish long-term,'' Acampora told the Managed Funds Association Conference here. ''I told everybody I think the Dow has a primary target of 9,800 this year and perhaps more, of about maybe 11,500 by the end of the year.'' Acampora reiterated, however, that he looked for U.S. stock prices to correct downward by 5 to 10 percent near-term, as he said in a report on Monday. ''I think it's a correction in a new bull market that began in October 1998,'' Acampora said. He also said U.S. share prices could correct downward by more than 10 percent if U.S. interest rates climbed above the 6 percent level.

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