Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: Bucky Katt who wrote (7854)	2/9/2001 2:13:54 PM
From: James Strauss	Read Replies (2) of 13094

William: We've had 4 down waves in a possible 5 down wave cycle on the NDX... bigcharts.com Your 2248 target looks likely... We could also see a short term triple bottom in the 2100 area... bigcharts.com What's disturbing is the growing number of New Lows on the Nasdaq... finance.yahoo.com The selling that was drying up is getting liquified again... CSCO, the heart of the tech sector has been growing earnings at the rate of 32% for the past 5 years... It's current P/E is 70... That's more than double the growth rate... Considering that it will be harder to grow earnings as fast on a bigger base, we are likely to see annual growth rates in the mid 20's %... While very good, not good enough to support a P/E of 70... When the P/E falls to a more realistic 50 at a 20.00 price we could see the end of this drop in the NDX... Jim

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