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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (52052)	7/19/1999 8:18:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 86076

If you were a doctor and not a lawyer, you could at least prescribe some sedatives....what good are you -g- From the trader column in Barron's A couple of warning signs: Valuations look stretched with the S&P 500 now trading at 28 times projected 1999 profits, and carrying a puny dividend yield of less than 1.2%. There's also a lot of complacency about the profit outlook. One institutional investor notes that recent history suggests the market may be at an interim peak. He notes that the Dow peaked in 1990 on July 16 and 17 at just under 3000 in a prelude to a 20% drop ahead of the Iraqi invasion of Kuwait. The Dow also hit an interim high in 1995 on July 17, and reached a peak on July 17, 1998, ahead of its summer plunge.