Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Crimson Ghost who wrote (56865)	12/14/1999 3:43:00 PM
From: Jacob Snyder	Read Replies (1) of 95453

OT: re: "End is approaching but not yet" I bought a bunch of Nasdaq 100 puts with the second Fed hike, and more the day of the third hike. Then watched in disbelief as the most overvalued sector (of a market at record valuation levels) soared up. What's it going to take to crack investor overconfidence, and put fear in the hearts of momentum guessers and daytraders? I mean, we've already had 3 fed hikes, and the consensus is more hikes early next year. Inflation bottomed in early 1998, and the CPI has gone from 1.4 to 2.6. Yet the S&P 500 is at a trailing PE of 31, which is higher than in 1929. What's it going to take?

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