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Strategies & Market Trends : Waiting for the big Kahuna

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To: James F. Hopkins who wrote (66122)	9/21/2003 9:39:43 PM
From: mishedlo	Read Replies (1) of 94695

I have absolutely no idea whether or not the next dip gets bought. Since the pattern is dip buying it probably does, but this US$ fall could have some unintended consequences as could Bush's messing in IRAQ (a situation getting messier every day), and Snows insane meddling talks with China. All that said, by any RATIONAL measure US stocks are at least 50% overvalued by historical terms. We never returned to the trendline and PEs are simply outrageosly high, dividends nonexistant, and "quality" of earnings (cost cutting, pension assumptions, stock options, pro forma, etc ect etc) are insane. How any rational person can not se an ENORMOUS BUBBLE is quite simply beyone me. That does not mean the bubble can not get bigger, but rest assured it should be ready to pop. Remember Japan had 3 major rallies of 50-80% before the bottom was hit. We are in our first one now. The bottom is far far far below here and I guarantee it, unfortunately I can not tell you when. M

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