Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: LTK007 who wrote (31925)	2/21/2002 6:23:54 PM
From: t2	Read Replies (7) of 99280

Might be that the bear market has to end in a Nasdaq crash...before it is over. 20% one day drop maybe. The numbers I put up a while ago of 1100 to 1200 may not really be that unrealistic given the PEs of a lot of these stocks compared to non-tech. I am of the opinion that the bear cannot end on a retest of the September lows--if it gets there, it has to break through those level. I don't see too many stocks at PEs of even 20 on the Nasdaq unless we get there. (or a reasonable Prices to Sales figure) Just my gloomy scenario. Hope it does not get that far. I fear the real momentum may just be building right now. Just can't see serious dip buying at levels around here on the Naz. The bear argument on valuations may be about to be proved correct. JMHO.

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