VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (37119)	5/21/2001 8:55:09 PM
From: Sully-	Read Replies (1) of 65232

Thanks Dealer! Bookmarked it. FWIW, using your chart, I calculated average volume for the last 20 days to be 1.92 billion shares...... today's volume is about 20% above that average. IMO, that's very encouraging, but is it significant enough to say it is breakout volume? FWIW, seems that most folks I follow & the indicators they/we use show more upside potential, but an increasing chance for a pullback near term too. I'm getting concerned about the P/E's on some NAZ leaders..... particularly considering their forward guidance (some stating YOY earnings declines & one or more quarters of low/no visibility). How can they go up in share price while they are in an earnings decline without resulting in nosebleed P/E's?? Those companies currently with historically high P/E's which have guided for earnings declines YOY, plus low/no visibility are stuck between a rock & a hard place IMO. I don't doubt some compaines will do just fine. I think some companies will have to lag behind unless we are to return to bubble high P/E's again. The NAZ has been up for 5 straight days, first time in many months. I wish I knew what tomorrow brings. Ö¿Ö

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