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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (18486)	6/24/1999 7:26:00 PM
From: PJr	Read Replies (1) \| Respond to of 99985

hb, Based on your best "guesstimate" what do you have for a target for the S&P cash when the reality plunge hits? How about the high yet to be obtained prior to this drop? Pat

To: pater tenebrarum who wrote (18486)	6/24/1999 7:29:00 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

Heinz, thanks for the 30 year look. I also found the following paper on Ed Yardeni's site: yardeni.com (page 4) I like one quote "Currently the Fed model shows that the stock market is the most overvalued since 1987. Back then the market recovered because earnings were better than expected during subsequent quarters. The problem now is that earnings expectations are too high. If so, then the market is actually even more overvalued." I'm getting goosebumps already.