Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: AC Flyer who wrote (21039)	7/10/2002 3:29:22 AM
From: LLCF	Read Replies (1) of 74559

You know AC... you really can be such a clown... really: <What's more, the stock market also talks. The fact that P/Es are still in the stratosphere after two plus years can mean only one thing - the market is discounting significant future earnings growth. > Uhhh, yea. And the market was discounting that to the 10th for any number of .com's. What did it REALLY turn out to be??? A bunch of morons paying stupid prices for stocks... I suspect it's the same. <There is still excess global demand for the greenback - to the tune of $2 billion per day - at a real interest rate in the range of 1 to 2%.> Uhhh, dude... as Maurice pointed out.. there's no excess anything, it's flowing, all demand and supply being met... that's what a market is. BTW, supply is currently being bid at quite a bit lower prices than 6 months ago, 1 month ago... yesterday... etc etc. And BTW... $US real rates are negative at the moment... Notice how folks have been going where they are positive [EURO] or even zero [GOLD]? If I were you I wouldn't bet against a trend that has just started... sort of like going long SPX a year and a half ago. DAK

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