<< Bogus pumping of SOX all day>>
I gotta ask. How was it bogus? Just cuz Intel didn't play along? (It tried to, but was pushed back down. Intel and 30 seem to be doing a tango). Seriously, though, what defined this as "bogus" rather than as "buying"? (Mind you, I'm not saying I understand why anyone would buy those Soxx fellows. . . but I don't know why it was bogus pumping either, and I'd love to learn).
Also, not to pick on you, I'm still curious where you got the PE of the S+P 500 to be 31.5? Do you have a link that backs that up? Here's a link (it's a PDF document, so be warned) that gives the PE as a little over 22 as of July 26th close.
yardeni.com
That's a huge difference from your figure, even though it, too, would argue that the S+P is overvalued, particularly if earnings come down any more.
Enjoy your weekend, y'all.
the freep |
