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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: David Howe who wrote (12518)6/3/2002 3:03:32 PM
From: ahhaha  Read Replies (1) of 19219
 
A lower dollar has the opposite consequence than it had in the past. It stimulates American output more than it does for any other country. A falling dollar will cause, contrary to finally learned, and finally wrong, Wall Street opinion, an explosion in corporate profits. This will lower current PEs, but forward PEs should rise due to rising stock prices which have to catch up with all the unavoidably bullish economic facts in place. With rates at 3% the median PE should be 30 for NYSE stocks. This is an actuarial fact, not an emotional one.
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