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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: current trend who wrote (15649)	12/16/1997 7:21:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 50167

CT re >>Our target for the S&P 500 is 1000 and 9000 for the Dow by mid-1998. Thanks for posting JB's analysis -- with the DOW at about 8000 and the SPX at 968, this forecast calls for a 12% move in the DOW and a 3.5% move in the SPX. The latter is certainly not the kind of return that would excite anyone given the inherent risks in this market -- I could get a little less than that return in a 1 year T-Bill and not worry about the down-side. Given that this is coming from one of the most bullish prognosticators on the street, I'd say that if anything it affirms the bearishness that we seem to be encountering elsewhere -- and perhaps as a sentiment indicator is a positive. I find it interesting less because of JB's opinion as to what the market is going to do and more because it suggests that even the perma-bulls are getting very cautious. Now with JB and Elaine G getting cautious and OJ, the resident bull, having turned bearish may be there is hope yet:)