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To: LK2 who wrote (1543)	3/11/1999 8:05:00 AM
From: LK2	Read Replies (2) \| Respond to of 2025

If the talking heads on this thread could talk like Raphie (Acampora) or Joey (Battataglia), they could get paid to fly to Brussels and Thailand and other exciting places. The DJIA could hit 11,500 by July, Ralphie says. Also, Ralphie says the >market could be at the start of a ''mega market'' lasting 12 to 15 years and reminiscent of boom markets at, for instance, the end of the First and Second World Wars.< If the above predictions come true, even the drive stocks might participate. <G> Regards, Larry the Credulous For Personal Use Only >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> biz.yahoo.com Wednesday March 10, 7:29 pm Eastern Time Dow could see 11,500 by July/Aug-Pru's Acampora BRUSSELS, March 10 (Reuters) - Wall Street's Dow Jones Industrial Average could hit 11,500 points before the end of this year, possibly as early as July or August, Prudential Securities technical analyst Ralph Acampora said on Wednesday. ''We are in a new bull market,'' he told a presentation before equity dealers in Brussels, noting that Wall Street was already only points away from his first target for the year of 9,800 points. The Dow Jones Industrial index closed up some 79 points at 9,772.84 on Wednesday. Financial stocks were recovering from the beating they received from the Asian and Brazilian economic crises. He said investors should hold a core of financials, including Citigroup Inc. (NYSE:C - news), Merrill Lynch and Co. Inc. (NYSE:MER - news) and American International Group Inc. (NYSE:AIG - news) and have ''some exposure'' to drug companies such as Johnson & Johnson (NYSE:JNJ - news) and Merck and Co. Inc. (NYSE:MRK - news). In biotechs he cited Amgen Inc. (Nasdaq:AMGN - news). He recommended market leaders, ''those who have the pricing power'' and cited General Electric Co. (NYSE:GE - news), Wal-Mart Stores Inc. (NYSE:WMT - news) and Home Depot Inc. (NYSE:HD - news). ''The leadership is quality,'' he said. Energy stocks were gearing up for a bounce, with oil prices firming, but he played down the risk of this leading to a pickup in inflation. ''If oil prices go up a little bit...inflation is not a big problem (now),'' he said. Acampora said the stock market could be at the start of a ''mega market'' lasting 12 to 15 years and reminiscent of boom markets at, for instance, the end of the First and Second World Wars. ''We are in the early stages of a bull market...the bear market ended in October,'' he said. A more recent five percent dip after the October 1998 to January rally reflected the fact that, ''the bull market got ahead of itself.'' Acampora predicted that the Dow would get additional drive if Hewlett-Packard Co. were replaced by America Online Inc. in the index. ''The Dow needs an internet stock...it is probably the one they pick if they have to pick one,'' he said. European markets had bottomed out and the single currency European Union was poised for real, long-term growth with a wave of company mergers and restructurings. He noted there was a floor for Germany's Dax .GDAXI> at 4,500 points and for France's CAC-40 .FCHI> at 3,800. More Quotes and News: American International Group Inc (NYSE:AIG - news) Amgen Inc (Nasdaq:AMGN - news) Citigroup, Inc (NYSE:C - news) General Electric Co (NYSE:GE - news) Home Depot Inc (NYSE:HD - news) Johnson & Johnson Inc (NYSE:JNJ - news) Merck & Co Inc (NYSE:MRK - news) Merrill Lynch & Co Inc (NYSE:MER - news) Wal-Mart Stores Inc (NYSE:WMT - news) Related News Categories: health, US Market News Copyright © 1999 Reuters Limited. <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<