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: LTK007 who wrote (16266)	11/21/2002 1:17:42 PM
From: mishedlo	Read Replies (1) of 30712

Hard to believe, but people , in the main, have no idea we are now at early 2000 bubble insanity levels. One reason is because Street keeps spoonfeeding phony P/Es. I do not think we are at 2000 levels (on the average naz stock) but we are there on 60% or so. What people ignore is all the stuff that is at .50 or $2 that will never recover. That is why we will never see 3000 again IMO. Funds have no choice but chase what is left. Thus QLGC INTC MSFT etc are beyond 2000 insanities but BRCM CREE RMBS and others probably are not (but still insanerly priced) The S&P is what is really out of wack compared to 2000. This one is easier to calculate IMO. Fair value there is probably 200. I have no idea what fair value on the Naz or DOw is, but it is probably as bad. Right now, it just does not matter. We are in meltup. M

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