The fundamentals are excellent, but everytime since '89,that I can find nothing attractive to buy,the market has gotten wacked.Perhaps the pullback is already over, but we have the new problem of huge multinationals,with stable earnings,warning investors to lower their expectations.Let me warn you that I want it to drop,because I would love to buy KO,MERCK,moreCSCO,and many others that could come into buying range,so perhaps I'm not seeing things clearly now because this could become a great opportunity.If KO is going to drop,doesn't it make sense that it finally pullback to a pe below 30?That would put it around 50,and I believe it would drag the market down to around 7000-7200.This would give the market a pe of 19,still not cheap but a reasonably high level due to the fundamentals.The fundamentals are too good for anything more dramatic to happen,but a smaller pullback would be healthy.
gene |
