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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 684.83

+0.6%

Dec 22 4:00 PM EST

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To: hdl who wrote (60703)	10/15/2000 11:49:19 PM
From: Ibexx	of 99985

A research report entitled, "Evaluation and earnings trend" was issued by Ed Keon of Prudential on 10/13. Basically it states that "We think the tech valuation correction is probably over." Some numbers to substantiate the view. * Tech sector's overall P/E is now 35x; super-tech's P/E is close to 45x, a number which previously suggested to be the bottom (by the same authors at Pru -- ibexx notes). * By comparison, the P/E of super-techs in March was 77x. * PEG numbers have fallen substantially: --For techs overall: from 2.46 (3/23) to 1.77 (5/23) to 1.44 (10/13) --For traditional techs: from 1.6 (3/23) to 1.36 (5/23) to 1.05 (10/13) --For super-techs: from 2.72 (3/23) to 1.87 (5/23) to 1.48 (10/13) --For SP 500: from 1.87 (3/23) to 1.68 (5/2/3) to 1.53 (10/23) .... Ibexx

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