Ralph Acampora doesn't think we're seeing a market top; in fact, he says the Dow may climb to...

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7footMoose Comments (2242)
 
We can only hope that this guy is correct.
16 Sep 2010, 02:40 PM Reply Like

elliotz Comments (251)
 
Can I take a look at the crystal ball he is looking into. I don't know where the Dow will go but I do know that close to 50% of Americans now rely on the government for some sort of assistance, 44 million Americans live in poverty, 50 million don't have health insurance and tax revenue is declining while government expenditures are expanding. All of these are horrible long term trends.
16 Sep 2010, 02:43 PM Reply Like

rooftop Comments (140)
 
Who gave this comment a thumbs-down and why? Seriously I would like to understand the thinking.
16 Sep 2010, 03:00 PM Reply Like

7footMoose Comments (2242)
 
A report from the 2010 Census released today said one in seven Americans live below the poverty level and this is an improvement over the last Census. Another report released today said that tax revenues are actually increasing. Unfortunately Congressional expenditures are increasing at a faster pace. Of the 44 million Americans without medical insurance, some portion of them, estimated in the 15 million range are without through personal choice. I can't say why they made that choice but that is the statistic. You can make it sound like "the sky is falling" Chicken Little but another distorter of statistics can make it sound as though "everything is just peachy."
16 Sep 2010, 05:16 PM Reply Like

OptionManiac Comments (3097)
 
"he says the Dow may climb to 13,000 by next June, citing excessive pessimism on the economy"

We investors are a strange bunch, aren't we.
16 Sep 2010, 02:43 PM Reply Like

tunaman4u2 Comments (2381)
 
Excessive pessimism eh?
When you go into huge debt & print $ to make things look better you want me to believe its all roses without question like you?
16 Sep 2010, 02:43 PM Reply Like

Harry Tuttle Comments (2221)
 
Why is this news?

Please wake me up when the Barron's round-table and the consensus in Wall Street calls for a down market. Even flat will do.
16 Sep 2010, 02:47 PM Reply Like

pacalvotan Comments (30)
 
Ralph has been around a long time and should be listened to . Doesn't mean he is right. Everyone should go to Agora Financial and sign up for their 5 Minute Frcast. It is free. Today they redraw their Alt-A and Option ARM chart. That shouldscare you to death as they are forecasting the resets are coming again with more people out of work and their housesare worth even less plus the banks are appparently not lending. Now that is a wall of worry.
16 Sep 2010, 03:00 PM Reply Like

Anjum Comments (77)
 
Lets just say 11625 dow is the level that will decide if we see 13k or 8k first.
16 Sep 2010, 03:03 PM Reply Like

7footMoose Comments (2242)
 
Say what!
16 Sep 2010, 05:09 PM Reply Like

lafano Comments (221)
 
He's a great technical analyst and has over 40 year experience. However, I hesitate to agree because I contend the market is much different today than in the past, and it's so difficult to forecast, especially with the large impact of China and emerging markets. We know that the European and Japanese markets will stagnate at best. And, we're at the mercy of politics and our spending (without regard to growth and jobs). I hope he's right.
16 Sep 2010, 03:05 PM Reply Like

OptionManiac Comments (3097)
 
I think we should not be afraid of China and emerging markets, for they are our future markets. Wealth is not a zero-sum game.
16 Sep 2010, 06:25 PM Reply Like

tunaman4u2 Comments (2381)
 
Massive consumption of global resources should not scare us, it should scare the future who will have HUGE $ chasing earths declining commodities.
20 Sep 2010, 01:32 PM Reply Like

OptionManiac Comments (3097)
 
I agree that rampant unintelligent growth will turn this planet into an empty husk.
20 Sep 2010, 02:56 PM Reply Like