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Strategies & Market Trends : Roger's 1997 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: phbolton who wrote (6366)	11/2/1997 12:42:00 PM
From: Joseph G.	Respond to of 9285

<< it could happen again>> No kidding? Joe

To: phbolton who wrote (6366)	11/2/1997 1:02:00 PM
From: Zeev Hed	Respond to of 9285

phbolton, you are right in this respect, and you should really extend it back, I think to 1966 (from memory) when the market first tried to go over 1000. Than for 20 years it traded between 572 to 1000. This could happen, but I have few arguments against this. My main argument is global, if we take out the next 6 to 18 months of pacific rim disarray, we have a trend that is bringing to the global consumer society millions and millions of new middle class consumers. I would not be surprised if the middle class of China by 2010 is twice as big as our middle class. This will be a major engine to world growth. The pending entry of this population to the consumer class society is the main reason I am not taking a very bearish stance on the market and believe that by next June we should reach the bottom of this bear market and continue to new highs above 10,000 by the end of the century. Zeev