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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 684.45

+0.1%

Dec 4 4:00 PM EST

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To: jmootx who wrote (71308)	3/6/2001 12:03:46 PM
From: bumboo	Read Replies (1) of 99985

<< 1973-74 we had an energy crises, inflation, deep recession, devalued dollar from the gold standard mess, budget deficit from a lost war in Vietnam. Nixon resigning..... Anybody still think you should be short????? >> jmootx: Back then, the SP500 bottomed out at a PE of less than 10. Right now the PE on the SP500 is still over 20. Of course the earnings expectations now may not be as bleak as 1973-74, but I get the feeling that the uncertainty and gyrations will continue until there is some hint that inventories are falling and earnings are becoming more predictable. Regards, bumboo

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