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Show Tbe Salt Lake Tribune, Even Wall Street Bulls Are Bears Fans 5 ' : By Janies Russell Knight-Ridde- r Newspapers Todays riddle, which is especially applicable to the folks on Wall Street: When will the bulls root for the bears? Answer: In the Super Bowl, provided that tlie Chicago Bears make it to pro footballs climactic game on Jan. 26. If they put any credence in one of the most accurate stock market indicators around, the bulls are likely to cheer for the Bears. Heres why: In investment terminology, a bull is an optimist, a believer in rising stock prices. Contrariwise, a bear is a market pessimist who expects prices to fall. Naturally, the bulls want the strong stock-markrally to continue through 1986. To assess the prospects for future market movement, market-watcher- s scan all sorts of charts, patterns and precedents. Some veteran Wall Street analysts, notably Robert Stovall and William LeFevre, like to cite the Super Bowl Predictor as a remarkably successful indicator of market direction in a particular year. It is based purely on coincidence and has no scientific or technical support. But somehow it works. In simple terms, this theory holds that a Super Bowl victory by the representative of the National Football Conference which includes the Bears portends a good year for stocks. A win by the American Conference team foretells a bad year. Shop Weekdays Stovall and LeFevre have tracked the Super Bowl Pre dictor for the 19 yeais the big game has been played and its always been right on target. When an NFC team, or a current AFC team that played in the old National Football League before its 1971 merger with the American League, won, the market went up. An AFC triumph was followed by a down market year. Remember the Miami Dolphins Super Bowl victories in 1973 and 1974? Both years produced declines in the popular market averages. Wnen the Dolphins were beaten by NFC opponents in 1972, 1983 and 1985, up went stock prices. There are a lot ofTjdd-bal- l coincident indicators that market analysts bring up from time to time. One is the hemline indicator, which suggests that the general trend of stock values follows the ups and downs of women's dress lengths. Check back a few decades and youll find theres a lot of validity to the theory. Short skirts were very much in the vogue when the market was soaring in the 1920s flapper era. Long skirts were the accepted womens wear in the early 1930s, when stocks were in a state of collapse. So many people know about the bowl indicator now that it may have a direct effect on stock prices. 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