Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 292.04

+2.4%

4:00 PM EST

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To: Donald Wennerstrom who wrote (53261)	8/15/2011 4:34:31 PM
From: Return to Sender	1 Recommendation Read Replies (2) of 95609

Great chart! If one looks at P/E's alone it's hard to find a time in the last 15 years when stocks were this cheap. I will use INTC as an example: moneycentral.msn.com Looking at your chart I see a pattern of higher earnings and expectations at, or near, market tops. Lower actual earnings and expectations at market bottoms. It's the same game as it ever was. It's just that many companies are actually better off financially than ever. Stock prices are so much lower than they were in 2000. That's great. It's hard to believe how cheap these stocks are based on the way we valued stocks back in 1999 and early 2000. Unfortunately, just because a stock, even a market is cheaper based on current P/E ratios, there is no guarantee that things won't get even cheaper still. After all actual earnings and expectations can fall as well as rise based on an economic cycle and what is going on in the world. Today was another great day. The volume was less than spectacular however. The SOX, and market in general could go on to new highs from here if earnings and outlooks can continue to beat expectations for the foreseeable future. If not then eventually we go lower. When a lot less is expected for future earnings then the SOX and market bottoms all over again. RtS

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