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Strategies & Market Trends : Value Investing
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To: jeffbas who wrote (9205)1/4/2000 4:34:00 PM
From: Bob Rudd  Read Replies (3) of 78610
 
QQQ Shorted this yesterday on nutty response to higher rates, way overbought, and anecdotal indications that forward PE was way high like 150 to 200. Slightly underwater last night I punched in the numbers and came up with a next year PE of 55 reflecting expected earnings growth of 50%.
Now I know that analyst estimates trail off as the year goes on so that 55 PE isn't realistic. But it isn't 150 to 200 my preliminary 'research' [comments on the net] had indicated so I covered this morning with a modest loss.
After I covered the Nasdaq fell out of bed. Maybe I should publish a newsletter called the 'Contrary Indicator' with my timing calls <g>
R
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