Booming ahead for the fifth straight day, the Dow Jones average gained 28 points Tuesday, closing at 3,050.98. Briefly, the Dow poked through its record closing high of 3,077.15, set Oct. 18, then eased back.
TAKE YOUR CHOICE: "After the big 'flash' following the Fed dramatic interest rate cut, you go back to reality, and reality isn't changed all that much." (John Neff, manager, $8 billion Windsor Fund) . . . "We can go up 20 percent from here over the next 12 months." (Elaine Garzarelli, who called the 1987 crash) . . . "I didn't expect rates this low; throw in a tax cut now and we could see an explosive recovery." (Robert Stovall, money manager) . . . "Stocks now sell for 24 times reported earnings and 2.7 times book value, close to double normal levels. I'm buying 'puts,' betting stocks will decline." (Victor Sperandeo, president, Rand Management) . . . "Fed's big move is bullish, but people should be only 55 percent in stocks anyhow. Economy's problems, depressed real estate, excessive debt take time to fix." (Ned Davis)
YOU DECIDE: "Stocks go to DJ 3,300 or Bush is not re-elected." (Astrologer's Fund) . . . "Fear we are on verge of a Depression finds justification in IBM, which just fell to 1982 lows." (Inefficient Market Hypothesis) . . . "Short-term, we're not out of the woods, but very little damage has been done. Stay 75 percent invested." (The Chartist) . . . "There's no money left on the sidelines; get out of all stocks and mutual funds." (Wellington Letter) . . . "Things look serious. Long-term pattern continues to weaken; don't bargain hunt, but sell into strength." (Professional Tape Reader) . . . "We're late in the bull cycle, and 1992 risks will be high." (Robert Farrell, Merrill Lynch)