Right now: P/E hit 32, at $6.22, now at $6.59 its a P/E of 32.95 bigcharts.marketwatch.com
This is not due to the Jewish holiday, its due to the Japanese dumped stocks and bought US DOLLARS to shore up their required marked to market rule that was due today. I expect a rotation back to stock equities, out of the US DOLLAR in the next few days and thus a big RALLY, especially with the PAYDAY RALLY at the end of the month and the 50 basis point lower Federal Reserve FOMC interest rates this week and again 50 more basis points next week at the monthly FOMC meeting and another 50 basis points before the end of the year, hopefully below 2 year treasury rates, that is OPEN CARRY and the re-creation by bank reserves and lending and multiplier effects of an increased money supply providing the required liquidity, to throw big money at the market, and raise stock price, NTAP especially, AHEAD OF THE CURVE of the economic recovery.
I am,
Truly your$,
-Crystal Ball |
