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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: yard_man who wrote (153153)	2/25/2002 7:21:21 AM
From: sun-tzu	Read Replies (3) of 436258

I have the same feeling now that I had in September, 2000. The liquidity induce rally is clearly failing and the impetus of FED injections and rate cuts has ceased. Accounting issues and corporate book cooking are indeed, far worse then even this bear imagined. The geopolitical landscape is a heavy weight on the shoulders of the capital markets. While corporate earnings may indeed improve next quarter, the street will no longer reward pro forma improvement. The current S&P p/e is 45. The NDX has 43 of 100 companies without appreciable earnings. The remaining 47 have a combined p/e greater than 50. Thursday's complete failure of Wednesday's strength is ominous. This market is prepped for a sustained decline. (~)^(~)

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