Zeev's Turnips - No Politics Message Board

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

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To: t2 who wrote (31943)	2/21/2002 7:28:18 PM
From: limtex	Read Replies (3) of 99280

NV - Now clear that there is no recovery. Thats what the market is saying and it's usually right. P/Es must compact to lower than a growth scenario. The Sep lows are irrelevant and were set by athe greatst physical attack on the US not the greatest financial attack. That is now clearly under way and it can't be long before some financial institution goes pop. Clearly thiscannot stop until we get to supportable P/Es and those are around 6 - 10. gorget historical numbers since they were not calculated in the middle fo the greatest bear market in history. and the 6- 10 P/Es are on earnings at the level of the then amibent economy. If by some mircal business picks up then maybe some interest might return to buying stocks but in the meantime who wants to risk owning stocks. tomorrow id Friday. Want tohodl over the weekend with the potential horrors that may come cralwing out over the weekend? Not a chance....the game is over except for the shorts. If a company like QCOM can end up dropping 15% a day, day after day then something nasty is afoot. Best, L

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