Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 39.40

-3.4%

12:02 PM EST

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To: Tenchusatsu who wrote (174129)	4/16/2003 12:51:12 PM
From: Dave	Read Replies (2) of 186894

It would be pretty silly to measure the mean of a stock index, after a massive equity bubble, by using a 5-year moving average! A more appropriate measure would be P/E. By that measure, we've got a long way to go before reaching the historical mean. Furthermore, it would be optimistic to expect stocks to simply sink to their mean. They almost always overshoot that mean, often by as irrational an extreme as the preceding bubble. I think we can all sit comfortably back and watch stocks fall further and further (while punctuated by aggressive bear market rallies like the one we just saw) until finally the equity markets no longer make front-page news because everybody's more interested in bond prices, precious metals, and containing runaway inflation. Dave

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