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By JOHN BRETSCHNEIDER
Rappahannock News Staff Writer
It’s time for the running of the bulls.
As the stampede gathers force you can run to keep ahead of it or jump out of the way — but you’d better not ignore it.
The bulls are not hoofing there way through the narrow streets of Pamplona, Spain. No, these bulls are barreling down an avenue all their own — Wall Street.
And if reports from local stock brokerages are even close, the bulls won’t run out of breath any time soon.
According to a market report released by Wheat First Securities in Warrenton, the current bull market will continue for at least the next year, with the Dow’ Jones Industrial Average almost certainly topping 4,000.
Although there may be some minor corrections along the way, the report by Don Hays, Wheat First Securities’ director of investment strategy, said that the stock market in general will continue to rise, “with an outside chance that the Dow could move slightly above 4,200.”
Last week, the Dow Jones Industrial Average closed at 3,633.93, pushing into all-time record high territory.
Although there are other market indexes, such as the Standard and Poor’s 500 and the New York Stock Exchange Composite Index, the Dow is considered by many to be a leading indicator of American economic strength.
In addition to the 30 blue-chip industrial stocks of the Dow performing well, small capital growth stocks will be the strongest they’ve been since 1982, the report said.
In other predictions, the Wheat First report said:
• The price of gold will rise from its present price of $363.60 per ounce (Sept. 1, NY Commodities Exchange) to $420 an ounce and perhaps $440 an ounce in the next year, but will drop to $250 by 1996.
• Inflation will rise slightly to 4.5 percent on upward wage pressure, but will settle back at 2 to 3 percent.
• The yield on the long-term bond is finding its low, and will move up to about 7.5 percent by March.
Among the reasons market analysts cite for the upward spiral in stock markets is the extremely low' rate offered through bonds, Trea
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