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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: John_W who wrote (9636)	12/26/1997 9:00:00 AM
From: freelyhovering	Read Replies (1) \| Respond to of 79297

John--I woke up this a.m. feeling quite optomistic about the prospects for the market next year. Reading a comment by Ground Zero helped put things in perspective for me. As I thought about what we have been through world wide these past several months, it jolted me that we were only down a few hundred points from the all time highs. This to me says that the bull market is still in tact and that we have been shrugging off the bad news with only brief but scary drops. The bearish sentiment has been increasing and investors continue to wait for the repeat of '87. I don't think it is coming for awhile. I predicted after our most recent 500 point drop and the following upturn that we should hit at least 8450 from my reading of the Point and Figure chart. I now think that we shall be above 9000 by the end of '98. That will be another 20%+ year and contrary to expectations. I would like to hear of others predictions for '98 and then like on Wall Street Week, we can review at the end of the year how close we all came to our marks. I will be more specific about my DOW prediction. I say we will close at 9231.42. Myron