At the three-quarter pole, who is leading our Dow Jones forecasting contest?

Of a record 2,500 postcards received and the Dow average closing Sept. 30 at 7,842.62, here are results:

Closest is Melinda Carl at 7,841. ("Good times won't roll forever; we're due for a correction.")

L Runner-up is Ann F. Gamse at 7,845. ("I just took a guess.")

When the contest began in January, the Dow stood at 7,870. Of those who entered, 80 percent predicted a higher year-end close than the Dow's current level.

WALL ST. WISDOM: "Pay more attention to company fundamentals than to the stock's price action. Eventually, cream rises to the top." (Kenneth Janke, financial adviser)

MARKET WATCH: "Stocks are reasonably valued today. I'm a buyer; the big question now is, 'When will today's buyers be rewarded?' " (Eddie Brown, Baltimore investment adviser)

"Worsening global economy could postpone the market's bottom -- but wherever it happens it's an astounding buying opportunity." (Yale Hirsch, Smart Money)

"This is no market for the meek, mild or those less agile than a cat." (Cantor Fitzgerald's News)

Pub Date: 10/07/98