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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey D who wrote (8810)	12/9/1998 9:28:00 AM
From: Diamond Jim	Read Replies (1) \| Respond to of 42834

Ralph Inagain Outagain Finnegan is talking again, taken from an Ibexx post on the Intel thread. -- Below is from Ralph A. as of today: Long-Term Our 1999 Stock Market Outlook—The Year Of The Stock Picker... * Our 1999 yearly range for the Dow Jones Industrial Average is 7800/8450 on the downside and 9800/11,500 on the upside. The S&P 500 range is 1050/1090 on the downside and 1350/1525 on the upside. * October 1998 was the bottom and represents a four year low. * The year 1999 is the third year of the president's term in office and the third year is historically the best of the four years. * Despite the fact that the DJIA, the S&P 500 and the Nasdaq Composite are now at new highs, 65 S&P groups (or 71%) out of a total of 91 sectors are at least 20% below their respective 1998 highs. The bears will view this as a big negative but we disagree. Of course a majority of groups have not caught up with the leading market averages yet simply because most groups and stocks suffered extreme damage (anywhere between 25% and 35% losses from their respective 1998 highs). Hence they will take time to build the necessary bases to support higher moves later on. It is this theme that we are emphasizing for 1999—stock selection. .....