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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Oeconomicus who wrote (9521)6/1/1998 10:52:00 PM
From: Pancho Villa  Read Replies (1) of 18691
 
Bob, I don't know how things will unfold. In theory we could see dow 11000 before dow 7000 but the overvaluation of the market is so extreme that I don't see that as a a high probability event. Perhaps the most important thing is that buying stocks based on earnings momentum, despite ridiculous valuations will no longer hold as earnings growth starts to decline even for blue chip tech stocks like INTC, DELL, CSCO, MSFT.

Pancho
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