The columnist was suggesting that the P/E ratio of the Standard & Poor's 500-stock index was high, based on JPM data for the P/E ratio. I haven't seen JPM's interpretation of the data.
Just keep your eye on price, MM, and buy, buy, buy. Buy exuberantly. The bear market is over and the recession never occurred. Consumers are confident, tech stocks are at bargain prices, there's no threat of inflation, interest rates will remain low, and the economic recovery will be strong.
Don't read the newspapers, and don't read books (unless, of course, someone posts relevant excerpts on an Internet forum). Keep yer eyes glued to the computer screen.
As for posting on Sunday, I thought it was Monday. No wonder stock prices seem relatively flat today, and volume seems light. I've tried to place 400 trades so far, but I haven't received any confirmations. Some might call it OCD (obsessive compulsive disorder), but I call it dedication to the dream, dedication to the discipline of day-trading.
I did seem to be losing less money today, for some reason. Maybe the fact that it's Sunday has something to do with it. Thanks for alerting me to the situation.
I don't tend to look at calendars, because they're distracting. Price is what's important, not the day of the week. In any case, I don't trust the Julian calendar, because of its technical errors. You may have noticed that the spring equinox arrived a day too soon (though I didn't, as it happens, because my singularly focused approach to day-trading doesn't permit me to look outside). |
