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Strategies & Market Trends : LastShadow's Position Trading
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To: AlienTech who wrote (25813)11/28/1999 11:45:00 AM
From: Logain Ablar  Read Replies (1) of 43080
 
Hi AT:

Its a matter of valuation. Assume CHKP earns $3 a share next year (also remember their tax rate will go up from this years 12% to 20% with a potential to 25% depending what they negotiate with the Israel tax authorities. This may surprise some investors). Today @ $145 its trading 48 times next years earnings.

Granted the whole market is trading at high multiples but I expect a multiple contraction next year.

Thats next year and right now the trend is still up.

Tim
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