| Roger,1550 and 1810 are my areas of interest, which I believe hold the highest probability, eventually. Also, the current upward correction will help define where we are. Since the markets can remain resilient, longer than you can remain solvent, the continuation of upward gaps followed by short-covering could take this up substantially, as they often do in parabolic runs. For this to occur, I would think long rates would need to drop. It's a possibility, but not highly probable in my view, currently. Also, concerning PE's, the ultimate target for price of the market and the target for earnings are a subjective wildcard. There are all kinds of variations that could lead to an 8 PE, for example. jmho |
