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To: ~digs who wrote (1615)	10/5/2005 6:25:28 AM
From: ~digs	Read Replies (1) \| Respond to of 7944

Prudential Equity Group shut its technical research group and laid off industry veteran Ralph Acampora, a spokesman for the firm said on Tuesday. The research division of insurer Prudential Financial shut its technical analysis unit "in response to market conditions and changing client demand," spokesman Jim Gorman said. Peter Martin, who worked with Acampora, and their administrative assistant also were laid off, Gorman added. Technical analysis focuses on historical price patterns to generate investment ideas. Acampora has been credited as the first analyst to say the Dow Jones Industrial Average would reach 10,000, Gorman said. Still, Acampora also predicted in late 1999 that the Dow could reach 13,500 to 14,000 in 2000. The Dow has yet to break 12,000 and closed on Tuesday at 10,441.11. He's been an instrumental part of the technical-analysis world for almost 30 years, co-founding the Market Technicians' Association in 1970 and founding the International Federation of Technical Analysis, according to Prudential Financial's Web site. marketwatch.com