Next move is either up or down


A FINANCIAL journalist must separate "off-the-wall" predictions ("Our gut feeling says the market will crash in late December") from forecasts based on solid reasons. Recent examples of the latter: "Bargain hunters will soon charge back into the market. Buying on dips worked too well recently to be abandoned now." (S&P; Outlook)

"Oil prices have more than doubled. That could send the market lower, but helps top energy stocks like Burlington Resources Inc., Exxon Corp., Schlumberger Ltd. and Haliburton Co." (Investment News)

"Once investors realize that Y2K concerns are overblown, the pent-up demand for stocks will emerge with a buying flurry." ("The Lancz Letter" in Barron's)

"Thanks to heavy tax selling, rising interest rate worries and Y2K concerns, stocks will get an even bigger seasonal bounce late this year." (Worth)

"The bull market is getting long in the tooth and a great many hi-tech stocks are richly priced." (Smart Money)

"Expectations of a big boost in stock prices based on third-quarter results alone, absent favorable inflation and interest rate news, may be wishful thinking." (Prudential Investor Weekly)

Pub Date: 10/13/99

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