BARRON'S REPORTS: "Edward Yardeni, Deutsche Bank, expects stocks to slide 30 percent or more this year. Then he sees a recession, after which 'the U.S. will reach the Promised Land of economic growth with no inflation.' "
And Alfred Goldman, A. G. Edwards & Sons, says, "After reaching 10,500, the Dow could drop to 9,600 near year end as people worry whether computers can meet the year 2000 challenge."
WHO'S LEFT TO BUY? "This is a 'blowoff' of classic proportions, the type that usually ends a bull market. A blowoff occurs when the public dives in, but when the masses are unanimously convinced stocks are going higher-- who is left to buy?" (Fahenstock's Signal Report.)
FOREIGN FARE: "We're extremely bullish on international bonds -- the most enthusiastic we've ever been," says National Trendlines, Potomac, Md. "These bonds will rally significantly over the next six months or more."
INCOME IDEAS: "People who retire in five to 10 years should build a list of stocks with steadily increasing dividends. Examples are Frontier Corp., Harcourt General Corp., Johnson & Johnson and South Trust Corp." (Income Digest.)
BACK TO NORMAL: "It's hard to be bearish with the Fed at our back. However, with valuations so high stocks might not have another big year after four in a row. We'll have a 10 percent overall gain. Small caps will spring to life." (Arnold Schneider, Wellington Management.)
Pub Date: 1/15/99