Wall Street Week with Louis Rukeyser (Updated)
I have many fond memories of watching Wall Street Week with Louis Rukeyser and I greatly enjoyed reading what Ralph Acampora had to say about the equity markets;
Ralph Acampora, once the dean of Wall Street technical analysts, wasn’t testifying to his own recovery from bearishness before unrepentant stock market junkies at the monthly meeting of the American Association of Individual Investors. But he was pointing to a major change in the market’s direction.
What is his forecast?
His target is between 9,500 and 10,000 in the Dow Jones Industrial Average by the end of the year.
,
For personal reasons, not because of being prescient, I was completely out of equities the entire 12 month period before the dark days of last fall. I started going back in to the market earlier this year and the day Bloomberg declared the Obama Bear Market I held my breath and jumped completely back in.
Embracing the recovery is good for politics, good for the Nation and good for your pocketbook.
UPDATE: After reading the March 6, 2009 declaration of the Obama Bear Market, I canceled all of my monthly dollar cost averaging requests for the funds that I own and put in orders to move from money market to 100% Equities. One of my funds is the Fidelity Blue Chip Growth (FBGRX). Over the next few months, lets see how I fared by going 100% into equities compared to lets say gold. To make this a little easier to follow, I will look at solely $100,000 of the funds I committed to FBGRX. That money was invested at $21.34 purchasing 4,686.036 share on March 9, 2009. On May 12, 2009 those shares had risen to $28.76 representing a gain of $34,770.39 for each $100,000 investment. On the other hand, I could have bought gold at $932.50 purchasing 107.239 ounces that is worth $926.20 today or a loss of $675.61.
I will say again, I have the utmost confidence in the American Worker, something Rush Limbaugh used to say.
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May 13th, 2009 at 6:54 am
‘Embracing socialism is good for Democrats, good for our marxist Leader, and good for my demented psyche. ‘
You sound like nothing so much as an apparatchik mouthpiece.
What a sad disgrace.
When the inevitable occurs in the near future, at least you will finally disappear.
May 13th, 2009 at 7:26 am
Embracing the recovery is good for politics, good for the Nation and good for your pocketbook. acorn
What a load of steaming bravo sierra. Embracing anything barack o’vomit touches is an apostasy. If the the market,the economy, et al improves, this will only strenghten the hand of the neo marxists, and entrench their tentacles even deeper into our lives. Capitalists (investors) should take their money and run. Let’s see how long the resident commie in the white house can survive when the producers vote with their feet.
May 13th, 2009 at 7:34 am
THERE ONCE WAS A LEAF NAMED OAK,
AT FIRST HE SEEMED A DECENT BLOKE,
BUT HIS BRAIN SEEMS TO HAVE MELTED,
AND WITH HIS MYOPIA WE WERE PELTED,
AND NOW HE IS A LEAF CALLED JOKE.
May 13th, 2009 at 9:37 am
Enjoy the rally while it lasts – but expect to take a sucker punch
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5301123/bEnjoy-the-rally-while-it-lasts—but-expect-to-take-a-sucker-punchb.html
DOW 4000 still in the cards
http://online.wsj.com/video/dow-4000-still-in-the-cards/F50D3822-069F-404D-BBE2-2BC3FCD9F976.html
America About to Go broke
http://articles.moneycentral.msn.com/RetirementandWills/InvestForRetirement/is-america-about-to-go-broke.aspx
If you are still in the market, you are an idiot.
Guns, Gold, Sliver and Land
OAK wake up.
May 13th, 2009 at 12:18 pm
“I have many fond memories ”
As do many of us, one of mine is when your posts used to be worth reading, but those are now quite distant memories.
May 13th, 2009 at 7:46 pm
I will say again, I have the utmost confidence in the American Worker, something Rush Limbaugh used to say.
Joe Smith started the day early having set his alarm clock (MADE IN JAPAN) for 6 a.m. While his coffeepot (MADE IN CHINA) was perking, he shaved with his electric razor (MADE IN HONG KONG). He put on a dress shirt (MADE IN SRI LANKA), designer jeans (MADE IN SINGAPORE) and tennis shoes (MADE IN KOREA). After cooking his breakfast in his new electric skillet (MADE IN INDIA) he sat down with his calculator (MADE IN MEXICO) to see how much he could spend today. After setting his watch (MADE IN TAIWAN) to the radio (MADE IN INDIA) he got in his car (MADE IN GERMANY) and continued his search for a good paying AMERICAN JOB. At the end of yet another discouraging and fruitless day, Joe decided to relax for a while. He put on his sandals (MADE IN BRAZIL) poured himself a glass of wine (MADE IN FRANCE) and turned on his TV (MADE IN INDONESIA), and then wondered why he can’t find a good paying job in…..AMERICA.