European Stars And Stripes (Newspaper) - January 17, 1981, Darmstadt, Hesse                                Stock tipster Joe Granville Wall guru doily Mog Ozine from press dispatches his critics Call him a Clown and a Wiz Ard of of but few people can shake up the Stock Market the Way Joseph Granville if there was any doubt about it was removed on after the Holly investment adviser recommended in his Telephone Early warning service that subscribers dump All the stocks they As the Market it was inundated with sell orders that forced trading delays in More than 100 the Dow Jones average of 30 which had soared past the level tuesday to its highest closing level in More than four abruptly turned around and by mid afternoon the Dow was Down More than 30 even after a modest rally before the the Dow still showed a to wiping out a Large portion of the nearly 41point gain it had built up in the first three trading Days of trading volume reached record Levels of million shares at the new York Stock eclipsing the previous High of million last and Mil lion shares at the american Stock Granville was not shy about taking responsibility for the reached by phone late he said it could be totally traced to hours the legions of investors and stockbrokers who make up his avid following the Granville grou As one Wall Streeter refers to them had spread the word through the investment he had recommended to his Telephone subscribers that they sell out All their Stock and even go Short sell Stock borrowed from in Hopes of profiting from Price declines on those stocks that had gained the most ground in recent Many people clearly followed his by any Standard of the established order on Wall Granville is a his weekly Market which at last report had some readers at a Price of a is regularly peppered with jibes at Ortho Dox economists and Money they in his bag holders losers in the investment for most of the Granville takes his message on the Road in usually sponsored by local across the country and Between now and the end of he has dates in such diverse places As Den Ohio and British in these Granville fills his presentations with exotic showmanship ringing plus a musical composition of his own called the bag Holder because of even one Wall Street analyst who professes to Admire some of Granville work in analysing the Market describes him As a Snake Oil he can mesmerize an audience like an Evange 6 Many Wall Streeter also bridle at his practice of suddenly shifting opinions on the Market when he helped touch off a jump in the Dow Jones industrials last april 22 with a buy recommendation to his Early warning critics Point those who received Only his regular letter still had his previous negative at they the most recent Issue of the dated is emphatically straight it is it advises new subscribers to do some aggressive new the Marketis signalling a Sharp upswing Granville Early warning which costs an extra a entitles subscribers to a phone Call when Ever the forecaster changes his mind on the More is Likely to be heard from his detractors in the Days Given the stunning Impact his sell message but in the View of one Veteran Wall Street Robert Stovall at Dean Witter Reynolds its not Joes fault that one Guy can have such a remarkable Impact on the its the gullibility of a lot of investors who want simple answers to complicated ques whether popular or the publicity conscious Gran Ville was obviously delighted with All the attention he was the sell he would be proven Correct within just watch How much More the Market is going to go Down Over the next four to six he Granville is not the Only Stock Market there Are thousands of others who also ply the some Well some More but All certain that up Market analyst Granville being interviewed for abcs Good morning America january 1981 they can guide the bewildered from time people have sought certainty in an Uncertain said William chief economist at the new York Stock it goes Back to Reading entrails and Crystal life is too difficult if you have to Cope with and it becomes Al most unbearable in the Case of the Stock How each forecaster copes with the markets uncertainties varies from person to some stick closely to Stock while others delve broadly into political and economic Granville has even broadened his Stock Market techniques to predict he has predicted an earthquake for los Angeles in May 1981 and says it will read on the Richter whatever the some seem to work for a while and then other strategies May hang on for presumably because they Are right More often than the securities and Exchange commission has some investment advisers registered with of which perhaps publish Market there Are few requirements for those making Market other than and investment advisers Are generally not liable for losses that result from their recon though they Are held to strict standards in areas such As advertising Ive seen literally hundreds of letters come and said Richard the 56yearold publisher of the Dow theory in la a former textile designer who raises cac uses for a has each paying a year for his twice monthly his specially is tracking the various Dow not just the Well known Industrial average but the transportation the Utility average and so not Only does he look at the averages but he also looks at the characteristics of the stocks in those such As their and calculates such ratios As the number of advancing stocks relative to declining the fact that most averages did not follow the climb of the Indus trial average to on 6 made Russell particularly right the Market looks Rocky to me in telling people to stay in Treasury he Stanley the publisher of the professional tape Reader in studies 44 technical indicators for his reports that go out twice a month to some subscribers who pay a the Indica tors fall into three categories monetary Mea sures of Market such As Odd lot and momentum such As the numbers of new highs and lows among Stock says he is considerably More optimistic than i do not think the Market is going to crash he in telling my customers to sell certain like Energy related stocks and the High fliers that were popular last and move into some new areas like aerospace and Banks and selected Blue another forecaster who is somewhat More optimistic than Granville is Martin a 38yearold in who holds Forth both in his Market forecasting the Zweig and As an occasional panellist on Wall Street the weekly Public television pro whose subscribers pay a says he turned modestly bullish around there Are who share Granville Pes one of the biggest bears is Thomas president of Thomas Holt in who looks for the Dow Jones Industrial average to slide to who is charges a year for his twice monthly which go out to More than invest Holt differs from some of the other Market letter pub Lishers in that his approach is based More on economic analysis than on technical his pessimism now is based on the i liquidity among corporations and among individual interest rates will climb through the he and the prime rate could reach 25 he will cause tremendous disappointment among speculators and should cause the Market to plunge 400 another prominent voice with an economic perspective is Eliot who publishes a weekly newsletter priced at a his specially is discussing the effects of Washington on Wall he is currently bearish on the Stock though he looks for a Quicksand rally that will not hold he bullish on Gold the stars and stripes Page 13