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Politics : High Tolerance Plasticity

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To: chowder who wrote (14885)	7/5/2002 8:29:37 AM
From: jim_p	Read Replies (1) of 23153

Just another over sold bear market rally. Still no capitulation yet. Stocks still over valued based on any historical standard, 17 times S&P 500 forward (questionable) earnings is not cheap. Markets bottom when stocks are so cheap that when the market finally turns, investors pile on with a vengeance. Weshallsee!!! No insider buying. Insider buying has trended lower for the last three years and is now sitting at the low. Market bottoms occur when insider buying is rising and is at historical highs, not lows and falling. Dollar still in a the early stages of a bear market. The last time the dollar and the markets both declined together was in the fall of 1987. Indicators are predicting an improving economy, but the market seems to feel other wise??? Double dip?? Know any CEO or CFO who is willing to risk going to prison to stretch the numbers a little??? Expect the numbers coming out over the next few quarters to go to the opposite extremes and be very very conservative. Not good for markets when stocks are still over valued. JMHO, Jim

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