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At 12:41 AM -0400 6/23/98, Lee Clayton, D.D.S. wrote:
>I just saw on the internet and lost my url an explanation by Elaine
>Garzarelli explaining why 0 (yes ZERO) earnings growth was a bullish case
>for the Dow to reach 12000! Her reasoning is that "because interest
>rates would remain low and stocks would go higher"!!!!
IMHO she is a loser. Last year she started a newsletter. At the time her
models predicted a market decline and she advised all clients to get out.
Then, when no decline, she revised her models. Since then she has been
bullish. (Perhaps she overshot.) Sounds a lot like overfitting to me.
Her claim to fame is that she got her clients out before the '87 crash and
she has been living on that reputation ever since.
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