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Strategies & Market Trends : The New Economy and its Winners

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To: Immi who wrote (16726)	4/24/2003 11:05:45 AM
From: Logain Ablar	Read Replies (1) of 57684

Immi: I like Anindo's comments and input. His reasons for being bearish are valid (valuations and sentiment). We've had a 6 week impulsive run in the market. This does not mean the bear is over. While individual breakouts have been impresive it is too early to call the bear over. My caution to Anindo is we can have a cycical bull within this secular bear before we start to return to normal valuations. You know if you pick up today's WSJ and look in the marketplace section you'll notice the S&P is trading @ 31x eps. Now we were probably @ 28x when this run started. Historically, excluding the bubble, this is a little high, no? Best Tim

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