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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: BigKNY3 who wrote (7201)	3/11/1999 8:18:00 AM
From: BigKNY3	Respond to of 9523

Prudential's Acampora:European Stocks To Follow U.S. Upward BRUSSELS (Dow Jones)--Prudential Securities Chief Technical Analyst Ralph Acampora, famous for his bullish outlook on the U.S. stock market, said Wednesday that European stocks are likely to benefit from their U.S. counterparts in 1999. Acampora told a group of Belgian traders that equities - especially those in the Dow Jones Industrial Average - are in the "early stages of another bull market." He recommended that investors stay in the big bluechips, like American Express Co. (AXP), Citigroup Inc. (C), Pfizer Inc. (PFE) and General Electric Co. (GE). "The market's telling me that it wants to go up, because it's led by quality," he said. He predicted that the DJIA will break through 9800 points shortly and then hit a secondary target of 11,500 points sometime in the third quarter of 1999. He said this push is the result of low inflation, low interest rates, the technology revolution and a peacetime economy. Acampora said that Europe is also getting the "American fever," as indexes like the U.K's FTSE 100 are hitting records highs. "Europe's starting to correct a little bit," he said. "We're starting to see big mergers like Daimlerchrysler AG now, the Europeans are doing all the right things." He said France's CAC-40 Index and Germany's Xetra DAX have done less well, but that they're still above important support levels. The technical analyst said that the CAC needs to stay above 3800 points, trading in a 3800 to 4200 range. Turning to Germany, Acampora said the index can find support at 4500 points. In Wednesday trading, the CAC closed 2.51 points, or 0.1%, higher at 4162.31 points, while the DAX ended 60.42 points, or 1.3%, lower at 4730.05.