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Strategies & Market Trends : Point and Figure Charting

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To: Bwe who wrote (25549)	8/16/2001 10:49:38 PM
From: Gottfried	of 34813

Bruce, [edited] I saw the WSJ 'Heard on the Street' article. From your post >Nasdaq earnings: The WALL STREET JOURNAL reports trailing earnings for the last 12 months ended July 31st showed a loss of $148.3 billion and this wiped out the cumulative earnings for the last 5 years. The NASDAQ COMPOSITE stood at 1043 in September 1995, soared to a high of 5,048.62 by March 2000 and is currently at 1918.49. Because of the losses no Price Earnings ratios can be calculated. NASDAQ still way, way overpriced.< All this would be fine if Nasdaq were a single company. Since it isn't, it's pure bunk and a Nasdaq P/E is useless. I realize that won't stop pundits from repeating this stuff. The column actually shows the biggest gainers and losers. The quoted column probably won't. [edit: this post shows part of the WSJ column and a link for subscribers Message 16220803 ] Gottfried

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