P&S and STO Death Blow's Message Board

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Strategies & Market Trends : P&S and STO Death Blow's

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To: Jeff who wrote (12241)	10/25/2002 3:15:12 PM
From: James C. Mc Gowan	Read Replies (4) of 30712

Look guys, patience is wearing while the pump job continues. No way I believe a new bull market has emerged here. See, S+P said yesterday that actual p/e of their SP500 index,taking out unfunded retirement plans and stock option expense is: 48 I lived thru a major Fed/PPT pump job in 1998, with the bankers made whole on LTCM/Russian Bond default. This situation looks a lot like another bail out of the bankrupt bankers to me. JPM/Derivatives king and Sandy Weill at C before Congress. There ARE reasons why the TA doesn't stack up, in the short term, during these pump jobs. Don't be fooled. This is all about distribution. This is tough but I survived worse. Death of a Senator is cause for a mid day spike. Very sick market to me. Media gloating on propect of Senate swing, ng. Thanks for all the excellent TA on this thread. James

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