MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: jmootx who wrote (72900)	3/20/2001 7:30:51 PM
From: Wayners	Read Replies (2) of 99985

Yes definitely right about the history. Once the earnings get depressed however, the P/E's can stop working because the earnings are so low (in comparison to book value) and everything is trading at 1 to 2 times book value and people forget to subtract book value from the current market price before doing the P/E calculation. The thing to watch IMO is business inventories. Data showing noticeable reductions in inventory are going to be key. Are there any other leading indicators? Also seems to me that the Dow is the last the fall and should also be the first to recover. People start to throw out the blue chips with the bathwater last.

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