James,..Re: Advancers led Decliners by nearly 3 to 1... We are in a Bull trend..
Also, new lows continuing to dry up on the NYSE.
quote.yahoo.com
What do you answer to people who invariably say the market is still overvalued with the S&P currently at a PE of 28? I looked up the components and contribution and the largest contributors percentage wise are CSCO at 1.1%, KO at 2.1%, MSFT at 3.09%, WMT at 1.73% and GE at 3.41%. Also, big contributors are PFE, PG, MRK, JNJ, IBM and INTC, all more than 1%. Doesn't the fact that these PEs are somewhat pricey combined with their weighting distort the overall index PE?
I believe either you or somebody else mentioned this previously but I just got around to looking up the weighting.
Just curious,
Lee |
