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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 684.83+0.6%Dec 22 4:00 PM EST
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To: bobby beara who wrote (83492)10/28/2002 10:24:08 PM
From: Tom Pulley  Read Replies (1) of 99985
 
Looks like valuations may have a long way down to go by that plot. I read recently Forbes columnist Ken Fisher says that there is actually no statistical correlation between PE and future stock performance. Its hard to believe but Fisher is a very bright guy and has been quite accurate in his market predictions in recent years. He went bullish in July so we'll see if he is right.

Tom
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