The Daily Dow
Thursday, June 19, 1997
by Robert Sheard

LEXINGTON, KY. (June 19, 1997) -- Would you believe a Dow of 10,000 by this time next year? That's the call made today by Prudential Securities' analyst Ralph Acampora.

Representing nearly a 30% gain from today's levels (in one year), it's a bold call. But Acampora has been making very bold (and bullish) calls for the last several years and is riding a multi-year winning streak (a rarity for market prognosticators).

Do I think he's right? I don't have a clue. I sure hope he is, but like all market forecasts over the short run, I don't put a lot of faith in such a prediction. I'm completely convinced the market will reach 10,000, then 15,000, and 20,000, but to suggest I know when it'll happen is simply grandstanding.

That said, I have to love Ralph. He's a bull, and as a long-term investor who is always in the market, bulls are my friends. And he's been consistently bullish since I've been with The Motley Fool, during stretches when a lot of people thought he was an idiot for predicting big gains with the market already at record levels.

Liking him, though, and betting the farm that he's going to be right are two different matters. So I'll watch his forecasts with interest, and even if he were suddenly to turn bearish (and he mentioned that it would take interest rates in the 8% range to derail his prediction), my investment approach stays the same: save money every month, buy top-quality large-cap stocks, and have the patience and courage to ride out strong and weak markets.

In the meantime, go get 'em Ralph!

(c) Copyright 1997, The Motley Fool. All rights reserved. This material is for personal use only. Republication and redissemination, including posting to news groups, is expressly prohibited without the prior written consent of The Motley Fool. ________________________________


1997 Foolish Four Model
Stock  Change   Last
--------------------
T    +   3/8   37.88
GM   -   3/4   56.00
CHV  +   1/8   74.38
MMM  ---       99.88

           Day   Month    Year
        FOOL-4   +0.12%   3.83%   4.28%
        DJIA     +0.76%   6.08%  20.61%
        S&P 500  +1.00%   5.86%  21.23%
        NASDAQ   +1.03%   3.34%  12.09%

     Rec'd   #  Security     In At       Now    Change
   1/2/97  120 3M            83.00     99.88    20.33%
   1/2/97  153 Chevron       65.00     74.38    14.42%
   1/2/97  179 Gen. Motor    55.75     56.00     0.45%
   1/2/97  479 AT&T          41.75     37.88    -9.28%


     Rec'd   #  Security     In At     Value    Change
   1/2/97  120 3M          9960.00  11985.00  $2025.00
   1/2/97  153 Chevron     9945.00  11379.38  $1434.38
   1/2/97  179 Gen. Motor  9979.25  10024.00    $44.75
   1/2/97  479 AT&T       19998.25  18142.13 -$1856.13


                             CASH    $609.53
                            TOTAL  $52140.03