Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (42788)	8/8/1999 11:31:00 AM
From: Skeet Shipman	Read Replies (1) of 94695

Hi Bill, It doesn't appear many people are concerned about the market. Not many postings on SI thus far this weekend. Or maybe they are in agreement. So far LG. has a unanimous response we are not going to new highs on the S&P. Will we will rally from being oversold is still in question. Personally I think its just summer's brain drain. I checked out what the professional drained brains have been doing over the last month. Well, it seems over the last four weeks analysts increased their yearly estimates on 240 of the S&P 500 and decreased their estimates on 136. I guess that means analysts on average turned more bullish? We do no they seem to run a little behind the curve at times. I was impressed that they reduced estimates on the 136.! Of course, 51 out of the 500 companies do not have positive earnings. Oh - who cares? that's only 10% of the largest companies in the US. And, at least half of these will take a one time write off (again) this year. Combining that with the high fliers in the S&P helps to explain the high PE . Not so long ago someone was saying? It doesn't get any better than this?! Skeet (Phase 2 - Financials? - I'll wait till the morning to flip the gamblers' coin. )

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