Mike, Nice link on the Gold Monitor Lizard thread. <G>
Looking at my economic charts, several things have changed since the first quarter to make for better eps this quarter. The dollar is much weaker, so we will sell more products overseas. Asia continues to recover. The spread of nuclear weapons is tightly contained. Our trade deficit has narrowed to the slimmest level I've seen in recent decades. PC sales continue to roar up, especially in dollar terms. The chipmakers are printing money. Viagra has brought six dead people back to life. Banks have greatly decreased their exposure to risky derivative trades. Writeoffs have virtually ceased. Productivity growth is at a new post-WWII high. PE Ratios are very low. The quality of earnings is as solid as Arnold's biceps.
Uh-oh, my 4-year old pal, who occasionally helps me run this box and performs the more difficult math problems I can't handle, just walked in and turned my charts right side up. Maybe things don't look so good, after all. But, hey, I'm a bull, and reality will never change my opinion. <G>
MB |
