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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: Gabriela Neri who wrote (8848)	3/26/1998 10:27:00 PM
From: PaulM	Read Replies (2) of 116764

Gabriela, Bloomberg reported today that overall earnings SHRANK last Qaurter year over year. It didn't say that growth decelerated, It said shrank. (I invite others to confirm this). Blamed the Asian crisis. If, instead of the 1.7% growth analysts are forecasting this Q, overall S&P earnings shrink again year over year, we'll have an average PE 27 market at a time when then the current trend is for earnings is downward. 27 years is a long time to wait, and considering the risk associated with equities, current market valuations make absolutely no sense.

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