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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.38

+0.1%

Nov 12 4:00 PM EST

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To: marginmike who wrote (53943)	6/13/2000 9:52:00 PM
From: American Spirit	Read Replies (1) of 99985

Whose corporate profits are we talking about? In computers, retail, software, etc poor earnings reports are already priced in - and more. UIS for example. A perfect example. Study it and tell me why it's PE is so low. Why does TOM have a PE of 3? Why is IBM not treated the same as INTC? Why is CPQ still at crash prices? Reason because future growth of earnings (which will happen) hasn't been priced in at all. Low expectations this July make for few disappointments. Of course there will always be some. I'm not talking about a perfect world here. Just saying that the summer rally just hit profit-taking and is about to contniue now. Nothing more really.

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