Acampora's Dow 10,000 Forecast Rings True.NEW YORK--(BUSINESS WIRE)--March 16, 1999-- Media Conference Call Today at 11:30 EST EST electroshock therapy. EST abbr. electroshock therapy Conference Call Number: 212-778-5120 The record crossing of the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. (DJIA DJIA See Dow Jones Industrial Averager (DJIA). ) today came as no surprise to Prudential Prudential is the name of two different companies and buildings named after them: Companies:
Word used to describe an investor's attitude. Bullish refers to an optimistic outlook, while bearish means a pessimistic outlook. bullish , Acampora believes the DJIA is poised to continue its climb, and that it could reach a high of 18,500 in 2006. "We are in a new bull market," says Acampora. "This could be the start of a 'mega-market' lasting 12-15 years, similar to the boom markets that followed the First and Second World Wars." In June 1995, Acampora first made his DJIA 7,000 forecast. His Forecast 7,000 report drew significant attention, not just because of the landmark number but also in light of his detailed historical and technical analysis. Acampora supported his position by comparing the current bull market with the one experienced in the early 1960s. During the period from 1962 to 1966, the DJIA almost doubled. In his January 1997 report, Dow 8250+, Acampora forecasted that the Dow could reach 8,250 before the end of the year, but cautioned investors that the DJIA would experience tremendous volatility as it climbed. To support his position, Acampora drew new parallels to a 12-year bull market experienced from 1949 to 1961. During that period, the DJIA gained five -- fold from 200 to 1,000 points. Dating the beginning of the current bull market to November 1994, Acampora suggested that if the Dow could achieve comparable gains over a 12-year period to its performance in the 1950s, a Dow high of 18,500 could be possible by the year 2006. Remember past performance does not guarantee future results, and there is no assurance Mr. Acampora's new forecast will be attained. Prudential Securities Incorporated is a fully diversified diversified (di·verˑ·s , global securities firm based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , serving clients in the U.S. and overseas through approximately 6,300 Financial Advisors. The fifth-largest brokerage firm, Prudential Securities is a subsidiary of the Prudential Insurance Company of America. |
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