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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: AllansAlias who wrote (70637)	2/22/2001 9:57:31 PM
From: yard_man	Read Replies (1) of 436258

I saw a supposed 'technician' on the TV this morning in a hotel where I stayed last night. He was talking about some indicator which he coupled with the eases in interest rates and said we hadn't been down like this after the combination for 20 or 30 years running -- he said he kept scratching his head until it occured to him the trailing PE on the S&P 500 is more than twice what it was during the second worst historical downturn when the Fed had eased in combination with his technical indicator ... What was really funny was his reasoning after that -- based on what he had seen he was urging caution (OK, he didn't say sell) at this level, but if the Naz could make it back to 2800 or 3000 that'd be the sign the worst was over (OK, he didn't say buy at that level -- but he sure implied it). In other words if oyu are smart -- sell low and buy high. Is that what some folks are doing right now on this thread? <g>

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