Here is this fabulous interview as available on CNBC:
Airtime: Wed. Feb. 16 2011 | 11 15 00 ET
A look at how the S&P could possibly hit 2,800 in just two and a half years,
with Laszlo Birinyi Jr., Birinyi Associates presiden
What I stated for Oil 300...
these kinds of crazy forecasts happen only in periods of extreme and irrational exuberance. It is fair to assume that two years ago, when oil dropped to $30 a baril, the supply and known reserves were about the same as today and that the fundamentals over a period of 10 years didn't change so much during these past two years to justify a price move from $30 to $300. So my opinion is that Dow 36,000 and Oil $300 and Gold $5,000 forecasts are generally made close to long standing market tops than floors. I'm thinking that oil will trade at $20 before it trades $300.... is of course valid for the SPX as well.