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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 7 4:00 PM EST

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To: Craig Richards who wrote (27667)	9/28/1999 4:14:00 PM
From: Gottfried	Read Replies (2) of 99985

Craig, >>The one thing that makes me the most bearish is the graph someone posted of the P/E ratio of the NASDAQ, showing that it is now > 150<< This P/E is calculated by adding all companies' earnings and all companies' prices to get the ratio. In effect it treats the whole NAZ as if it were ONE company. To me it means that a minority of companies are doing very well while most have slim, no or negative earnings. The method leaves something to be desired. It reminds me of calculating the net worth of 100 people. 99 are homeless and one is Bill Gates. On average they're worth $1 billion each. :) Gottfried

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