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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.21

-1.1%

Nov 6 4:00 PM EST

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To: globestocks who wrote (63337)	11/29/2000 1:47:52 PM
From: KymarFye	Read Replies (2) of 99985

I'm not saying that that we've reached the turning point already, or even that recent selling is in some objective sense "overdone," but, unless the game changes in some world-historical way, when the next bull market comes around, the best or at least most glamorous companies will, as ever, be granted valuations far above average. The most highly favored companies will always have above-average PE's: It's tautological. That's what makes an average an average. Furthermore, and to add something truly unfashionable on this thread at this time, under the right circumstances (worldwide buildout within next-generation I'net environment), many of those "unbelievable" projections for growth in "routers, servers, hardware or software" may still turn out to be conservative.

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