OT**
Ralph Acampora is a widely followed "guru"............friend of mine calls him Weathercock Acampora.
Here's why:
Nasdaq rides record wave - Feb. 23, 1998
Prudential Securities
More related sites... NEW YORK (CNNfn) - A longtime bull, Prudential Securities chief technical analyst Ralph Acampora turned negative late last year - saying the Dow could reach as low as the 6,000 level in 1998.
Now, he's turned bullish again, resurrecting an earlier prediction that the Dow could reach 10,000 this year. Acampora joined CNNfn anchors Jan Hopkins and John Defterios on "Street Sweep" to explain why. Excerpts from the interview follow:
FORT LEE, NJ., August 4, 1998 -- Just 24 hours after he said the Dow Jones Industrial Average would hit 10,000, Prudential Chief Technical Analyst Ralph Acampora was back on CNBC's "Street Signs" with a different prediction.
In an interview with host Ron Insana at 3:30PM, ET. Tuesday, Acampora stated, "I've been saying that the secondary stocks are already in a bear market and my call this morning is that the blue chips will also go into a bear market. It's a bear call."
Correction or bear market? - Aug. 4, 1998
CNNfn Markets
Prudential Securities
More related sites... NEW YORK (CNNfn) - One factor behind Tuesday's market decline was comments by Prudential Securities' Ralph Acampora that the current decline could take the Dow down as much as 20 percent from its highs of last month -- bringing the blue chip index to around 7,500
Stock strategists bearish
Cohen and Acampora slash S&P forecasts; market continues to slide
October 8, 1998: 1:52 p.m. ET
Funds are down but not out - Oct. 8, 1998
Federal Reserve
Goldman Sachs
NEW YORK (CNNfn) - The latest bout of stock market volatility appears to be too much for even the most optimistic of Wall Street's bulls to take.
After telling members of a business economics association Monday that stocks and corporate bonds are undervalued, Goldman Sachs & Co. equity strategist Abby Joseph Cohen Thursday lowered her operating earnings-per-share estimates for the Standard & Poor's 500 companies.
Cohen, one of Wall Street's most closely watched bulls, lowered her 1998 operating-earnings-per-share estimates to $49 from $50.50. Her estimates for 1999 operating-earnings-per-share were reduced to $52.50 from $55.
In late August, she reiterated her forecast that the Dow will return to 9,300 by the end of the 1998, despite its staggering drop from a high of 9,337.97 set on July 17.
Prudential Securities chief technical analyst Ralph Acampora also slashed his outlook for U.S. blue chips Thursday to ranges in bear market territory for the Dow Jones industrial average and Standard & Poor's 500.
His new target ranges of 6,500-7,000 on the Dow and 745-870 on the S&P 500, if met, would represent bear market level declines in both blue chip indicators.
Acampora, one of the market's most enthusiastic bulls, turned more bearish late this summer just before the August 512-point free fall in the Dow Jones industrial average.
Even so, Acampora predicted last month the Dow had bottomed out and said be believed the stock market was positioning itself for a rally that could take the blue-chip index back up as high as 8,800 in the near term.
A guru gets caught in 'Net - Oct. 8, 1998
Acampora's market commentaries
Portfolio manager
NEW YORK (CNNfn) - Ralph Acampora is bullish again.
The fabled Prudential Securities technical analyst, who turned bearish on the market in August, is once again telling investors to buy stocks.
Minutes after the Dow Jones industrial average soared 214 points to a new record high of 9,374 Monday, Acampora was predicting the blue chip rally may not be over yet.
"With this kind of momentum, we've got a better than 50-50 [percent] chance of hitting 10,000 by the end of the year," he said, in an interview with CNNfn Interactive.
Acampora bullish again - Nov. 23, 1998
Prudential Securities
Portfolio manager
NEW YORK (CNNfn) - In dramatic juxtaposition to moves by another influential market guru, Prudential Securities' Ralph Acampora Friday advised investors to stay aggressive in stocks, saying that the market is riding a once-in-a-lifetime bull trend.
Blue chips drive Dow - Dec. 29, 1998
U.S. stock markets
Portfolio manager
NEW YORK (CNNfn) - The stock market is showing so much broad-based strength that one influential Wall Street analyst expects the Dow to shatter, not just break, the 10,000-point mark in 1999.
Ralph Acampora, chief technical analyst at Prudential Securities, told the Moneyline News Hour with Lou Dobbs Tuesday he expects the Dow Jones industrial average to reach 11,500 next year.
One factor that has impressed Acampora is the broad-based strength of the market, pointing to Tuesday's rally as an example. The Dow closed Tuesday at 9,320.98 -- up 94.23 points.
Ralph Acampora
Managing Director, Global Equity Research
Director of Technical Analysis
Prudential Securities Incorporated
Ralph J. Acampora, CMT, Managing Director, Global Equity Research, has served as a Prudential Securities' Director of Technical Analysis since July 1990. He is a widely recognized industry leader in the field of Technical Market Analysis.
Mr. Acampora is a regular panelist on the popular weekly TV show, Wall $treet Week with Louis Rukeyser. He is regularly consulted for his opinion about the market by major national newspapers throughout the country including The Wall Street Journal, Barron's, Business Week, USA Today, and hundreds of local papers. Mr. Acampora has appeared on the NBC Nightly News, CNBC, CNN-FN and other business news stations.
With nearly 30 years of technical experience, Mr. Acampora has been instrumental in the development of modern-day technical analysis. He co-founded the Market Technicians' Association in 1970, and is a past president of that group; founded and was the first chairman of the International Federation of Technical Analysts, comprising 4,000 colleagues around the world; and helped create the Chartered Market Technician (CMT) examination that now leads to the technicians' version of the CFA.
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