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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: AC Flyer who wrote (15104)2/18/2002 10:31:22 AM
From: Stock Farmer  Read Replies (1) of 74559
 
Hi AC,

I think a lot of positions could be argued ;o)

For example, the markets might be back in the channel, only to find the cargo doors open, like what happened to the ferry a few years ago when I was living in England.

Me, I am a simpler fellow. I think PEs are high because prices are outrageous and earnings aren't. Which we seem to agree implies that folks expect earnings to become outrageous.

But it might be that folks also don't yet realize that they expect prices to become less high. Which certainly has been the case on the topic threads. At least, when one peels apart the logic of strongly held positions.
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