Ralph Acampora chimes in (the guy is everywhere, it seems)
from www.iionline.com (the March ii issue just out)
Was that a Bear We Saw Last Summer?
If so, this may be a brand-new bull market.
by Maria Bartiromo
"I differ from all other strategists on Wall Street because I believe that we did have a bear marketbetween July and September of 1998," says Prudential Securities technical strategist Ralph Acampora. "That was not a correction. It was a bear market, and it discounted everything. Now we are in a completely new bull market, as opposed to the final stage of a bull market. It doesn't get worse from hereit gets better. This new bull will last a couple of years. I'm on fire!"
Acampora looks for the Dow to reach 11,500 in 1999. He says investors should own shares of airlines, pharmaceuticals, the Baby Bells, and computer makers, particularly Compaq Computer. "I would also be buying some of the ugly stocks of 1998 in 1999: Boeing, Minnesota Mining and Manufacturing, Union Carbide. They were on their butts last year, and they have bottomed. In the small-cap and midcap areas, I would buy Liposome, Bob Evans Farms, Taco Cabana, and Aflac."
|
