“We believe the market remains well supported by valuation and our model has been stress tested for weak earnings growth and higher-than-expected inflation,” noted Gail Dudack of the Dudack Research Group, in a recent newsletter. As for her 2008 outlook, Dudack predicts “lots of volatility” and “many 10% corrections within an uptrend” for the year. She also believes healthcare and technology shares will show the greatest appreciation in 2008, while financials and materials will perform the worst. Other predictions: real GDP growth of 2.5% in the fourth quarter, an average inflation rate of 2.3%, a value of 14575 for the Dow, S&P, and Nasdaq at market close on 12/29/08.
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